The SPR release for weeks has been 300-600K barrels per week. You think the global oil market is being propped up by these tiny SPR releases? Why don’t you bother reading the data?
The SPR theory was only going to work if flows out of strait remained below 10MBPD. At current rate the shortfall out of Hormuz is a few mbpd (if that) and China’s lack of imports has more than offset that.
It’s a global refinery problem right now. But even then it hasn’t become severe enough for the West to feel pain. In May/June it was severe enough that they signed the MoU. Now they aren’t nearly as much worried.
Iranian society is suffering immensely right now under this blockade. But of course people on this board ignore that and only focus on elevated fuel prices in Europe and America as proof strategy is working. Which is a false sense of winning.