The president’s trip to Saudi Arabia is unlikely to reduce oil and gasoline prices, and it is not clear that anything else he might do would work, either.
The release is the third in the past five months and would be by far the largest amount ever injected by the U.S. government into the market, amounting to about 5 percent of daily demand.
Oil prices soared in 2021, giving a boost to the stocks of energy companies. But with the world shifting toward greener alternatives, don’t count on that trend continuing.
