Oil falls 2.5% on diesel drop
Oil prices have dropped significantly by 2.5%, with diesel falling by over 5%, following European talks about releasing additional inventories of diesel and crude oil to alleviate supply shortages. The European Union countries announced discussions to release 50 million barrels of diesel and 50 million barrels of crude oil in response to U.S. pressure to boost supplies and lower fuel prices. Despite increasing oil flows from the Middle East, the fundamental factors remain strong, with inventory drawdowns continuing. Brent prices are expected to reach $115 per barrel in the last quarter of the year.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)