Exchange Stabilizes Supply

The most likely outcome is that the SPR exchange bridges a short-lived logistics gap while Gulf of Mexico production begins returning after Isaias. Because the authorization is small relative to national demand and structured as an exchange rather than a sale, the market impact is concentrated in crude and refining rather than broad risk assets.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.