WTI crude down more than 5 percent as US mulls tapping reserves

Agence France-Presse

Posted at Mar 31 2022 02:39 PM

A file photograph showing pumping units sihouetted against a setting sun work continuously in an oil field near Los Angeles, California USA 11 March 2008. Paul Buck, EPA-EFE/File
A file photograph showing pumping units sihouetted against a setting sun work continuously in an oil field near Los Angeles, California USA 11 March 2008. Paul Buck, EPA-EFE/File


HONG KONG - WTI prices plunged more than 5 percent Thursday on reports the United States is considering releasing a million barrels a day for several months to address a supply crisis caused by Russia's war with Ukraine.

West Texas Intermediate sank 5.21 percent to $102.20, while Brent was off 4.23 percent at $108.65.

More details to follow.

RELATED VIDEO:

Watch more News on iWantTFC