Trump claimed 17m additional SPR oil would be offered in the latest tranche; it's unclear if he's just restating a volume w/in the current 4th tranche. Between September and October, only 2.9m barrels have been cleared, a dramatic drop from the summer.
The fact that no one wants to "exchange" or "borrow" oil from the SPR implies that they think they won't stay in the black if they do so. At ~25% return premium above the current price of oil, this infers the expectations of oil prices in 2028-2029 at or above $72-80 a barrel.
The SPR release is moot at a ~25% return premium; it can't lower prices. Oil prices are high, not because of a lack of supply, but because of the total premium (risk insurance, freight costs, hazard pay, etc.) of Gulf oil driving up global oil bids.
Everything this administration is doing is the opposite of what is needed to curtail exogenous inflation. This is 100% due to their errors and misjudgments in the #IranWar and the #Economics of #Oil.
#USPol