Oil prices fall after US ponders record-breaking release of crude reserves
by Phillip Inman from on (#5XPV4)
Joe Biden seeks to allay fears of shortages over Russian invasion of Ukraine
Oil prices have dropped after White House officials said the US was considering a record-breaking release of crude oil reserves to allay fears of shortages after the Russian invasion of Ukraine.
A barrel of Brent crude fell more than 5% to $105.50 (80.40) on Thursday as traders digested the impact of the largest-ever release since the reserve was created in 1975.
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