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Tracy Shuchart, independent trader and strategist at Independent / Trader, raises concerns that crude oil stored in the U.S. Strategic Petroleum Reserve (SPR) may face quality degradation as storage levels reach historic lows.
Shuchart points out that XOM flagged these risks in 2023, particularly noting worries about the aging of stored oil and its potential impact on crude quality.
Shuchart has commented on other key market events in recent months. In June, she highlighted market anticipation around Warsh's first FOMC meeting. Earlier this year, she reported that Phoenix Tailings received a conditional $500 million loan from the U.S. Pentagon to expand rare-earth production.