PLTR - Wall Street Breakfast: Strategic Petroleum Reaction

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Strategic Petroleum Reaction Happy Thanksgiving! Many thanks to all of our Wall Street Breakfast readership as we go into the holiday season. WSB won't be published with markets closed tomorrow, but tune back in Friday.WTI crude rose more than 4% over the last 24 hours to retake $79/bbl after the Biden administration announced plans to release 50M barrels of oil from the U.S. Strategic Reserve, along with China, Japan, India, South Korea and the U.K. While the move was meant to lower prices, the volumes announced were much less than the market was expecting and would need to be sustained over a longer period of time. Many of the barrels will also need to be returned by the refiners who buy them, leaving traders forecasting tighter

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Wall Street Breakfast: Strategic Petroleum Reaction