Oil prices rebound despite SPR release

Sam FletcherOGJ Senior WriterThe plan to release emergency oil stocks held by the US and other countries to push down high crude prices almost worked—for about a week.The August contract for benchmark US crudes dropped $4.39 to $91.02/bbl and North Sea Brent crude fell $6.95 to $107.26/bbl June 23 when the International Energy Agency said member countries would release some 60 million bbl of crude and petroleum products from emergency stockpiles to reduce high energy costs.But by June 30, the August contracts for benchmark US and Brent crudes had climbed back to $95.42/bbl and $112.48/bbl, respectively, before a single barrel reached the market. “From the price action, we have...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected