China said to agree with US to release crude oil reserves around the Lunar New Year

For the uninitiated, this isn't anything new. This relates to the SPR release news back in November, which oil markets rightfully shrugged off. The latest update here is just to confirm the timing of the release of the oil reserves. Even though it may come during the quieter and thinner period for Chinese markets, I don't expect too much volatility just from that on oil prices.