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Commodities

US SPR Draws Down Crude Oil Stocks by 3.6 Million Barrels

Guavy AI Editorial Team
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Oil
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The US Strategic Reserve (SPR) has seen a draw of approximately 3.6 million barrels from its crude oil stocks, leaving it with about 285 million barrels.

This development is significant because SPR draws are policy-driven and not related to commercial inventory prints or refinery and import flows.

The read-through on West Texas Intermediate (WTI) prices has historically been influenced by government intent rather than the actual number of barrels released.

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