GasBuddy's De Haan: Refilling SPR After It Hit Lowest Level in 40 Years Is Pushing up Oil, Gas Prices

During a portion of an interview with Spectrum News Washington Correspondent Corina Cappabianca aired on Spectrum News Columbus on Monday, GasBuddy.com Head of Petroleum Analysis Patrick De Haan said that refilling the Strategic Petroleum Reserve (SPR) is pushing up oil prices. De Haan also noted that Russia and Saudi Arabia cutting production is another reason for the jump in oil prices that has led to gas prices increasing, and argued that the SPR releases were one factor in the cuts by the Saudis and Russians.