The underlying message of releasing oil from SPR Releasing oil from SPR has an underlying message that some may have got it and some may have not, and that message is that US has no more influences on OPEC+ and OPEC+ will be the ultimate oil market driver, the entire world's SPR may be enough for 1 to max 2 months worldwide oil consumption, therefore SPR release will drive oil price higher rather than lower. On the other hand Biden is stuck between his environmental commitments and high gas price, not easy to choose, that's a loose loose situation.
There maybe some fluctuations in the oil price in the short trerm, but long term looks very promising.
All my opinion.