Oil tumbled as France signaled that governments are about to reach an agreement on a release of oil from emergency stockpiles. This overshadowed speculations that sanctions against Iran will be tightened. The front-month contract for WTI crude oil slumped to 123.13, the lowest level since mid-February, before settling at 102.78, down -2.0%, while the equivalent Brent crude contract plummeted -1.43% to 122.39 at close.
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Oil Plummeted amid Possible Release of SPR
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