US SPR oil release is now fully priced-in – Goldman Sachs

Dhwani Mehta FXStreet

In its latest client note, Goldman Sachs analysts noted “a release of oil from the US Strategic Petroleum Reserve (SPR) is now fully priced-in.”

Additional takeaways

“It would not help the slow global supply response that only higher oil prices can overcome.”

“Prices would be likely to move higher still if such a release is confirmed and manages to keep oil prices depressed .. it would create clear upside risks to our forecast.”

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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