Biden May Announce Further SPR Releases Later Today

US official adds further hints that SPR releases may be extended past 180mn bbls.

• "The president's going to keep a careful eye on announcing today that whatever we're doing today could continue and see additional SPR releases - if necessary," US energy adviser Amos Hochstein said in a CNN interview.
• "The president's also going to be announcing that we are going to replenish the SPR," he said.
• Biden is expected to announce US plans to replenish the SPR at a price of around $70/bbl. "And that's critical, because that's what the industry in the United States needs to know in order to invest today in increasing production," Hochstein said.
• US President Joe Biden is set to announce additional measures on strengthening energy security today at 13:15 ET 18:15 BST.
• Regarding a US oil or oil product export ban, National Economic Council Director Brian Deese told Bloomberg TV in a separate interview “At this moment when we have uncertainty and uncertainty for American consumers, we have to keep all options on the table,”.