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Oil reserve release could actually boost prices long-term, analysts say

Welders work on the Strategic Petroleum Reserve pipeline on June 1, 1980, in West Hackberry, Louisianna. Begun under President Ford to reduce the threat of oil embargoes, the SPR crude oil is stored in huge underground salt caverns along the Gulf of Mexico, a natural choice due to the proximity of many refineries and distribution points.
Robert Nickelsberg/Liaison

President Joe Biden on Thursday announced a historic release of oil from the U.S.' emergency reserves in an effort to quell surging oil and gas prices. But analysts say the longer-term impact may be just the opposite.

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