up $ 1.75 or 2.28%
In total, the United States will release 50 million barrels of the SPR of which 32 million barrels will be traded in the coming months, and 18 million barrels, an acceleration of a previously authorized sale.
The sell is only a small amount and the markets have responded with an upward “buy the fact” movement.
Looking at the hourly chart below, the high price rose to $ 78.84. It was just short of the MA down 100 hours to $ 78.94 (green line). The price came in just below 38.2% at $ 78.64.