“It will be interesting to see what happens with oil with the US actually starts re-filling the SPR. Assuming, of course, that Biden will actually do it.”
***********
Why should he bother to do it? Nobody seems to care if we deplete the reserves. In yet another favor to Biden the media is pretty much silent about it. Truth be known, most Americans have no idea that the SPR even exists.
WRT oil prices, watch what happens when China’s economic activity gets back on track.
when China’s economic activity gets back on track.
is an interesting question.
Economic activity rarely responds well to increased authoritarianism (although there is some relief re the relaxed COVID sanctions), souring relations with a major trade partner, and so on.