Tuesday, March 18, 2014

Government Releases Results Of Recent SPR Release / Sale

Bloomberg provides results of the recent SPR release/sale at this post. It's interesting: it seems "winners" paid top price for the oil considering there must not have been much transportation costs involved. The average price was $99/bbl.

Winners: Phillips 66, Royal Dutch Shell, Exxon, Marathon, and Mercuria Energy Asset Management BV

Bids rejected: Chevron Corp., Valero Energy Corp. and Petroleos Mexicanos, among others.

A big "thank you" to the reader for sending me this link.  The companies mentioned were not all that interesting, but the price certainly was. I would have expected much less considering the relative glut of oil right now, but the price was in line with spot prices. 

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