, Columnist
America’s Oil Reserve Weapon Risks Misfiring
Washington isn’t the only player in this drama. Watch how OPEC+ nations react to the move.
This could fall flat.
Photographer: Callaghan O'Hare/BloombergThis article is for subscribers only.
In oil markets, the U.S. Strategic Petroleum Reserve has a reputation a little like the one the Russian armed forces used to have — vast and fearsome, a rival you’d be unwise to tangle with.
Russia’s aura of military invincibility was dealt a near-fatal blow over the past month in the muddy fields of Ukraine. The Biden administration should watch out: America’s most formidable energy weapon may fall flat, too.