US oil tumbles below $100 a barrel after Western countries plan emergency oil release
CNN
The West is tapping more of its emergency oil reserves to help wean itself off Russian crude.
The International Energy Agency announced Wednesday it would supply the oil market with 60 million additional barrels of crude from its emergency stockpiles. The Paris-based IEA, which monitors energy supplies for the world's leading developed economies, said details would be forthcoming.
The news was enough to send oil prices down more than 5%. US oil tumbled to $96 a barrel, and Brent crude, the global benchmark, fell to $101 a barrel.
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Warning: This post contains language readers may find disturbing.
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