World
OIL FALLS BELOW $100 AS EMERGENCY FUEL RELEASE TALKS INTENSIFY
Global oil prices fell sharply on Friday, with Brent crude dropping below $100 a barrel as markets reacted to intensifying discussions among European and other major economies about releasing emergency diesel and crude oil reserves. Brent fell about 3% to around $99.25 a barrel, while US West Texas Intermediate dropped more than 4% to about $88.92. European gasoil futures, a major benchmark for diesel prices, also fell more than 4%. The decline followed a French proposal for European Union countries to release about 50 million barrels of diesel from emergency reserves, while International Energy Agency members are considering a similar 50 million barrel release of crude oil.
BigV•2h ago•1 min read