The administration has decided to release 30 million barrels of oil from the US Strategic Petroleum Reserve, The release will be spaced over the next month, though it’s not clear how soon it can begin, since it should take at least a few days to line up the requisite buyers, sign contracts, and schedule pipeline space.
This should free up some cash for people to buy other goods.
|Energy sector breakdown||Market Cap||3 Mo Perf.||6 Mo Perf.||YTD Perf.||1 Year Perf.|
|Oil Well Services & Equipment||$5.5 B||-5.37%||+7.09%||+5.93%||+55.14%|
|Oil & Gas – Integrated||$26.2 B||-5.47%||+9.68%||+9.20%||+35.28%|
|Oil & Gas Operations||$1.5 B||-8.11%||+6.36%||+4.79%||+35.51%|