Oil prices drop on diesel and crude stock release talks
Oil prices fell more than three dollars and European gasoil futures dropped over four percent following reports of discussions on releasing additional diesel and crude stockpiles to ease tight global energy supplies.
Xurve View
Insights:
Xurve View
Brent Crude Oil dropped $3.06 to $99.25 a barrel on Friday afternoon following reports of discussions regarding emergency diesel and crude releases. The sharp decline eases acute concerns over tight global energy supplies after weeks of upward pressure. Prices remain on track for a weekly loss as traders weigh potential inventory injections against ongoing geopolitical risks.
