RE:SPR release backfiresLending oil out now and taking it back later will flatten the backwardation curve. It will have very little effect on the evaluation of Crude Producers. The share price of those producers may be another matter. Of course , if OPEC+ reacts that will be a net positive as I doubt they will make up for the unsold barrels later !! Biden's move may work short term , but I think Opec's memory will last longer than his !!