Will the aluminum ingont price unstable after American oil market release strategic
U.S. officials: if necessary, the U.S. prepares to release strategic oil reserves againChina News Service, November 30 2021 According to a comprehensive report, Amos Hawkstein, senior adviser on energy security issues of the US State Department, said on the 29th that in order to adjust oil market prices, if necessary, the Biden administration is ready to release its own strategic oil reserves again.
According to US media reports, on related issues in the TV program, Horkstein replied: "I will definitely do this. This is a tool that we can use, and it can be used again."
According to the Russian Satellite Network, the so-called strategic oil reserve is one of the effective ways to deal with short-term oil supply shocks (large-scale reductions or interruptions). It serves the national energy security, with the purpose of ensuring the continuous supply of crude oil, and at the same time has the function of stabilizing abnormal fluctuations in domestic oil prices.
Recently, the price of gasoline in the United States has risen to a seven-year high, and domestic calls for the release of strategic oil reserves to stabilize oil prices have continued to rise. U.S. President Biden also recently urged the Federal Trade Commission to launch an investigation into the possible illegal activities of U.S. oil and gas companies that have caused gasoline prices to continue to rise.
The White House announced on the 23rd that the U.S. Department of Energy will release 50 million barrels of crude oil from the Strategic Petroleum Reserve to alleviate the mismatch between oil supply and demand and reduce oil prices when the economy recovers from the new crown epidemic.
In this regard, foreign media analyzed that the move by the United States is "a drop in the bucket for solving the current oil shortage." After a brief drop in international oil prices on the 23rd, the intraday turned from black to red: West Texas Intermediate crude oil rose more than 2% to US$78.18 per barrel; Brent crude oil soared more than 3% to US$81.47 per barrel. Back to the high $81 mark.
Analysts pointed out that in the long run, the release of strategic oil reserves cannot solve the fundamental problem. Even if the price drops briefly, it cannot be maintained for a long time. The oil released from the strategic reserves is very limited. The 600 million barrels of oil reserves in the United States are only enough for the United States for one month; the 50 million barrels released is equivalent to about 8% of the 600 million barrels of reserves, which is two and a half days in the United States. Demand is the 12-hour consumption in the world.
If the oil market will releast again , mean the next stage of aluminum profile price will be unstable ,the energy sourse are still need to confirm and aluminum window and door as the house stable product , will be push on sale again .
Hope that American market will not bring too much finacial problem to resist the normal suport .
