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Release of US oil reserves has limited impact, analysts say

After weeks of growing concerns over rising gas prices across the country, President Joe Biden on Tuesday ordered the Energy Department to release 50 million barrels of crude oil from the country’s emergency reserves.

“American consumers are feeling the impact of high gas prices at the pump and on their home heating bills, and so are American businesses, as oil supply has not kept up with demand as the global economy exits. pandemic, ”the White House said in announcing that it was tapping the strategic oil reserve.

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