Biden Releases Oil! Gas Prices Lower? | Bill Baruch | Blue Line Futures | Yahoo Finance Interview

Posted: April 4, 2022, 6:58 p.m.

With 1 million barrels per day planned to be released from the Strategic Petroleum Reserve, how will the price of Crude Oil react? Bill Baruch, President of Blue Line Futures, joins Yahoo Finance.

Key Takeaways: 
--- There will be near term pressure to lower gas prices, but we typically do not see a drop until the kids go back to school.
--- For every action there is an equal and opposite reaction, but looking at the fundamental landscape 6-9 mo out, will there be enough oil and/or refining capacity?
--- The White House will gain some near term votes, but are they sacrificing near term gains for long term issues?
--- With Opec already adding 432,000 bpd in May, can they actually change course?
--- Saudi Arabia is looking for reasons not to bring more Crude online.
--- Gravity headlines are creating a White House vs. Oil Producers narrative. 


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