NO. 52



US Initiates Test Sale of 5mn Barrels of SPR Crude

In an evident effort to calm down the frenetic price escalations on worldoil markets, the US is to conduct a test sale of 5mn barrels of crude oil fromits Strategic Petroleum Reserve (SPR). This, of course, is no more than a tokenvolume, but it is generally seen as a test to determine how withdrawals fromthe SPR will operate, both from the physical and marketing standpoints. The SPRcurrently holds...