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WTI Sinks Nearly 4% as EU Weighs Emergency Stockpile Release
Oil prices fell sharply on Friday as Europe moved closer to another emergency stock release under pressure from the Trump administration, with WTI dropping nearly 4% and Brent falling below $100. At 6:54 a.m.
AI Summary
Oil prices dropped sharply on Friday as Europe moved toward a second coordinated emergency release of oil stocks, a push urged by the Trump administration to ease a global fuel crunch. West Texas Intermediate fell 3.78% to $89.36 per barrel by 6:54 a.m. ET, while Brent slipped 2.46% to $99.79 per barrel, breaking the $100 mark. The sell‑off was triggered by reports that European governments were discussing the additional release of emergency oil reserves, aligning with U.S. pressure for more barrels and diesel to enter the market.
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