Benghazi – Oil prices fell during Wednesday’s trading. This followed a news report. The report stated the International Energy Agency (IEA) proposed the largest strategic oil reserve release in its history. This move aims to lower crude prices.
Prices had recently risen due to regional tensions and war. According to economic reports, Brent crude futures dropped by 23 cents. This was equivalent to 0.26%. It reached $87.57 per barrel at 00:23 GMT. US West Texas Intermediate (WTI) crude also fell by 37 cents. This was a 0.44% decrease. It registered $83.08 per barrel.