Should Australia follow the U.S in buying more oil for a strategic reserve
I note that Australia under a deal has access to the U.S strategic reserves but Australia could add to these as part of the deal
Also as the attached graph shows it could be a good time to do this
Oil prices jumped more than 5% after President Trump said the Department of Energy would purchase crude for the nation's strategic petroleum reserve.
Australia imports 90 per cent of its liquid fuels but only has enough in storage to last 54 days.
Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.