# The release and refill of the Strategic Petroleum Reserve

> An explainer on the release and refill of the US Strategic Petroleum Reserve describes how emerging markets are feeling lagged effects of higher oil prices and elevated food prices. The text notes that commodities are closely tied to supply and demand dynamics.

- Date: 2023-06-01 · published 2023-06-01T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/35853-the-release-and-refill-of-the-strategic-petroleum-reserve
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

SPR releases add supply to crude markets and can ease energy costs for feed production and transport, though the text provides little specific detail on timing or volume.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-31 | [Opec+ sticks to output rise plans for May as US announces release of record oil reserves \| The National](https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil.md) | -10.6% | -2.2% |
| WTI | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -10.6% | -2.2% |
| WTI | 2021-11-24 | [Oil prices drop as coordinated reserve release eases some supply fears](https://feedsoft.ai/events/4776-oil-prices-drop-as-coordinated-reserve-release-eases-some-supply-fears.md) | -16.5% | -7.1% |
| WTI | 2021-11-24 | [Reserve oil being released into market that may have peaked - FreightWaves](https://feedsoft.ai/events/7076-reserve-oil-being-released-into-market-that-may-have-peaked-freightwaves.md) | -16.5% | -7.1% |
| WTI | 2022-04-06 | [Oil slumps to three-week low after Fed minutes, big IEA reserve release announcement \| Reuters](https://feedsoft.ai/events/41761-oil-slumps-to-three-week-low-after-fed-minutes-big-iea-reserve-release.md) | -1.4% | +5.7% |

## Sources

- reuters.com: https://www.reuters.com/plus/how-a-strong-dollar-affects-international-currencies-and-commodities

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.