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Crude slips after Macron and G7 confirm up to 100 million barrels

WTI is down 4.6% to about $88.64 and December Brent falls from about $100.42 to $98.72 amid headline-driven supply expectations.

Reported · Written up by our desk · Energy

Oil prices fell sharply after French President Emmanuel Macron said diesel and crude stocks would be released over four months, with G7 leaders confirming a release of up to 100 million barrels, according to Forexlive.

President Trump also posted that Europe agreed to release a significant amount of diesel from its stockpiles, with the process set to begin immediately, adding to supply expectations, the outlet said.

The headlines pushed December Brent crude from $100.42 to $98.72, while WTI was trading near $88.64, down $4.30, or 4.63% on the day, Forexlive reported.

Forexlive said the prospect of additional supply gave sellers a reason to press lower, with WTI moving below a recent support level and traders watching whether prices can extend toward the next downside technical targets.

Latest closeWTI crude $90.46 ▲1.2%|Brent $98.07 ▼4.4%

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