Oddly, gas and oil reserves have been increasing 3 of the last 4 weeks, but prices have surged. This surge happens every year before Memorial Day weekend, but this is worse than usual.
I don't see a Memorial Day "surge," do you?
Finding oil won't lower prices. Pumping it out, refining it and selling it on the market will lower the price. That can happen even if reserves shrink, which it often does. In fact I suspect that the price is usually low when reserves are shrinking and usually high when they grow.
Because refineries are switching from producing heating oil to gasoline.
Gasoline stocks are increasing but still low.
If the oil companies could get permits to build more refinery capacity, long term prices would decrease significantly.
Maybe the union employees of the oi;d companies need to get on the Democrats for preventing the construction of additional capacity.