MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI BRIEF: China Visitor Mobile Payments Surge in H1

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

MNI: SWEDEN Q2 GDP +0% Y/Y

MNI: SWEDEN JUN RETAIL SALES -0.1% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Granholm States US Intent to Refill SPR

OIL

The Biden administration plans to refill the US Strategic Petroleum Reserve soon, and hopes to refill it at lower oil prices if it's advantageous to taxpayers during the rest of the year, according to US Energy Secretary Jennifer Granholm earlier.

  • The administration had previously said it would refill the SPR around the $70/bbl range, something it failed to do when it hit that range in recent weeks leaving uncertainty around the commitment to do so.
  • The SPR is currently selling crude oil from two of the four SPR storage sites in the United States, Granholm said, fulfilling the congressional mandate to sell 26 million barrels in fiscal 2023.
  • Granholm added that the US wants to bring the SPR “back to pre-Ukraine war level” after selling 180mn bbls last year.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.