10 days ago • Posted by William Ramstein

#Oil falls as US prepares to release crude from its strategic #reserves.

Oil prices were down more than 1% to below $76 a barrel, reversing gains from the previous session, as the US is expected to announce Tuesday a release of its emergency oil reserves in a bid to lower high prices. The move will be coordinated with other countries including China, Japan, and India which are allegedly working on ways to release national crude oil reserves.