Oil price: Europe's Covid 4th wave out-influences Biden

JOE Biden’s announcement that the US will release 50 million barrels of oil from its strategic petroleum reserve has done little to drop the price of benchmarks Brent and West Texas Intermediate.

Oil price: Europe's Covid 4th wave out-influences Biden Oil price: Europe's Covid 4th wave out-influences Biden Oil price: Europe's Covid 4th wave out-influences Biden Oil price: Europe's Covid 4th wave out-influences Biden Oil price: Europe's Covid 4th wave out-influences Biden

File photo: depiction shows oil barrels in storage

The move was devised as a way to lower the price of fuel at service stations across the US where high prices have become increasingly complementary to inflation concerns, ultimately seeing a rise in