Goldman Sachs strategist Courvalin: A possible U.S. SPR release has now been fully priced in Goldman Sachs: higher oil prices are justified by a strong demand recovery in the face of a slow supply response A slow supply response from oil producers would only lead to further upward risk for oil prices Bloomberg is out with a surprisingly objective article (“surprising” because it goes against the very “green” ideology espoused by both the media company’s billionaire owner and the Biden administration) titled ” Biden’s Remedy for High Gasoline Prices: Blame Oil Companies ” which echoes what we said yesterday , yet which does not address the elephant in the room, namely that while Biden is (of course) scapegoating someone for his own failures, the solution remains just one: some form of SPR release or “volume exchange” (as JPM explained yesterday ). There is just one problem: at this point […]