World oil prices on Thursday morning fell by about 5% after the news that the US may release a million barrels per day from strategic reserves, Report informs.
The price of Brent crude June futures fell by 4.26% to $106.69 per barrel, and WTI May futures fell by 5.43% to $101.96.
Bloomberg reported that the White House, amid continued oil shortages and high gasoline prices, is exploring the possibility of releasing about a million barrels of oil from strategic reserves daily for several months.
Besides, investors continue to evaluate mixed statistics for the US. So, stocks of gasoline and distillates increased over the week, although analysts, on the contrary, expected a decline. Also, oil production increased by 100,000 barrels per day compared to the previous week. But at the same time, according to the US Department of Energy, oil reserves in the country for the week to March 25 decreased by 3.4 million barrels to 409.9 million, which is the lowest since the end of September 2018.