To be honest, I’m not sure how much of the SPR releases lowered the price of gasoline. Personally I don’t think the quantities are large enough to effect global commodity prices very much.
However I can see selling it at higher values would yield a profit for the US. But 4 billion
dollar profit ( if that’s what it was ) is overall insignificant to the size of the federal budget.
Any oil trader guys on here that would have a better insight ?
It had very little impact on prices. Not sure why some congressmen now think they can be opec.
That said, the prices weren’t high because of Biden either.