Crude oil prices plunge as 28 countries release supply from strategic reserves

usatoday.com, beta.news.yahoo.com :

Crude oil prices tumbled Thursday [23 Jun 2011] on fresh news of US economic weakness and a pledge by 28 countries to release 60 million barrels of oil from strategic reserves. NYMEX crude oil prices for Aug 2011 delivery fell almost $5 a barrel to around $90.51 a barrel. Wary of a new surge in gas prices, the Obama administration decided to release 30 million barrels of oil from the country's emergency reserve as ...

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Crude oil prices plunge as 28 countries release supply from strategic reserves