News > Oil prices tumble over $5 a barrel as Biden weighs massive reserves release
Oil prices tumble over $5 a barrel as Biden weighs massive reserves release
Business Standard | 31/03/2022 08:47 AM | Click to read full article
Oil futures dived more than $5 a barrel on Thursday morning on news that the Biden administration is weighing releasing some 1 million barrels of oil per day from strategic reserves for several months in a bid to calm soaring crude prices.
The Biden administration will give remarks later on Thursday where he is expected to announce the plan.
