US to release 1 million barrels a day from SPR over the next six months - statement

This was leaked yesterday and it's what knocked down oil about 14 hours ago. WTI is lower by $5.31 to $102.27. There's been some further selling on this but it should have already been in the market.

The total will release 180 million barrels, which is the largest release in US history.

More: Potential SPR release only highlights the tightness in global inventories -- three charts

Update: A newswire, citing sources, said payments on some gas supply contracts are due in the second half of April and May. So that leaves importers at least two weeks to sort it out. WTI crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term is down $4.46 to $103.31.