Energy Dept. sets test release from SPR

|By:, SA News Editor

The release of 5M barrels is a test, says the government, to check for proper operations and infrastructure. Offers to buy are due by 2 ET on Friday.

Oil was nicely lower today already and dipped further on the news, but has since returned to where it was before the release hit the wires, -1.4% to $98.66 per barrel.

The latest EIA report released just minutes ago shows crude inventories up by 6.2M barrels last week.

USO -1.2%

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