Oil Drops As Biden Prepares Largest Ever SPR Crude Release

President Joe Biden is reportedly preparing for what would be the largest ever release of crude oil from the strategic petroleum reserve, totaling some 180 million barrels, according to unnamed sources quoted by Reuters. According to the AP, who also spoke to two sources wishing to remain unnamed, the White House was preparing to release up to 1 million barrels of crude daily to rein in retail fuel prices. The specific period of the release has yet to be agreed, but it could be a few months, the AP source said. Gasoline prices have spiked above…