Following media reports that the United States planned to unleash 10-15 million barrels of additional oil reserves, oil prices modestly declined on Tuesday.
The journalist for Jennberg, Jennifer Jacobs, stated on Twitter that this action will be taken by the Joe Biden administration to “keep a balance in the market and prevent high gas prices.”
By 15:45 Moscow time, American crude futures “West Texas Intermediate” were traded at $ 85.
23 per barrel, down 0. 27% from the prior settlement price.
While the price of global crude futures at Brent was $ 91. 52 a barrel, down 0. 44% from the previous session’s price.
Source: RT + Bloomberg.
Following claims that the US provided 15 million barrels of oil, How were crude oil prices distributed?
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