Oil prices steady as market shrugs off SPR release plans

World Oil | Nov 24, 2021 at 1:00 AM
  • Oil fluctuated following the announcement of a coordinated release of strategic petroleum reserves.
  • The White House announced on Tuesday a release of 50 million barrels from its reserves in coordination with the U.S., China, Japan, India, the U.K., and South Korea.
  • The U.S. also confirmed Tuesday that its barrels — which make up the bulk of the release — will be mostly sour, or high in sulfur.