LONDON (Reuters) – Britain will allow privately-held oil reserves to be released voluntarily in answer to a global stockpile release effort led by the United States, a UK government spokesperson said in an emailed statement on Tuesday. “If all companies chose to use this flexibility it would release the equivalent of 15 million barrels of oil,” the spokesperson said. “This does not impact UK oil reserves which are significantly above the 90 days required by the (International Energy Agency).” NN: This is a shot across the bow in what will be a long process. I expect many countries to announce strategic oil reserve releases. OPEC will react… In the end they will lose. They always do In the mean time expect more volatility!