Thu, 31 Mar 2022 12:56:13 GMT
Oil prices react to Biden's announcement
On Thursday, crude oil prices declined by 7.07%, as the US President Joe Biden announced that the US Government would release the country's strategic oil reserves.
However, the price for US Light Crude oil did not reach below $100.00 per barrel mark or even touch the Tuesday's low level at $98.60. Moreover a 7.07% daily move has become the norm