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[CNA] Retreat for Asian stocks and oil prices as US considers releasing strategic reserves

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Oil prices fell on Thursday as the United States contemplated the biggest oil stock drawdown in its history, while Asian stocks fell as China reported weak manufacturing data and uncertainty over the war in Ukraine lingered.

The United States is considering releasing up to 180 million barrels of oil from its strategic stockpiles over several months, four U.S. sources said, as the White House tries to reduce fuel prices that have soared since Russia's invasion of Ukraine late last month.

Brent crude futures were down 4.9 percent at 107,89 dollars a barrel and US crude futures fell more than 5% f
(CNA)


CNA - Reuters
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