Oil Tumbled as U.S. and Allies Ready to Sell a Record Amount from Strategic Reserve
Oil prices tumbled on Thursday on the news that the Biden Administration is considering releasing up to 180 million barrels from its petroleum reserve (SPR), close to a one-time maximum in nearly 50 years of SPR history in response to the oil and gas supply crisis caused by the geopolitical events in the Eastern Europe.
April 1, 2022