SPR hits 40 year low as price suppression mechanism heads toward exhaustion.
SPR fell to 325.7 million barrels last week. Lowest level since early 1980s. Down 5.5 million barrels in one week. Government releases around 1.43 million barrels per day since March. Buffer to authorized minimum of 243 million barrels equals 82.7 million barrels. At current rates buffer lasts late August to mid October. Cushing storage near …