Loading ...Oil From Biden’s Emergency SPR Release Is Heading For Europe
Joe Biden’s decision to release 180 million barrels of oil from the US Strategic Petroleum Reserve was meant to help lower US gasoline prices “because Putin price hike.” Instead, it is heading for Europe.
According to Bloomberg, citing a person familiar with the matter, the Suezmax ship Advantage Spring – sailing for Rotterdam, according to ship-tracking data compiled by Bloomberg – received emergency SPR sweet crude from Energy Transfer’s Nederland oil facility around April 1 for export.
It appears that somehow the definition of emergency now includes making a profit at the expense of American consumers because sooner or later a real emergency will hit and then it will be too late, while easing the true energy emergency over in Europe.
https://www.zerohedge.com/commodities/oil-bidens-emergency-spr-release-heading-europe