The International Energy Agency plans to release 120 million of barrels of oil from their emergency reserves, including 60 million from a previously announced U.S. drawdown.

President Biden is looking at options to bring down high prices. One possibility attracting a lot of attention is releasing crude oil from the country's emergency reserves.

Presidents don't set the gas price you pay at the pump, but they're often blamed for it. And right now, high energy prices are helping send inflation to an over 30-year high.