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European stocks xpected to open flat

The US is to release 50m barrels of oil from strategic reserves

The United States uses more gasoline than any other nation in the world, and lately Americans have grown concerned about the swift rise in costs at the pump. The White House on Tuesday announced plans to release millions of barrels of oil from strategic reserves in coordination with other nations in hopes of lowering costs.

Oil marketing companies have continued to provide relief to consumers from rising fuel prices post revision of duties by the central and state governments on Diwali eve. Accordingly, petrol and diesel prices remained static for the 20th consecutive day on Wednesday under the daily price revision mechanism followed by oil marketing companies.

The U.S., along with China, India, Japan, South Korea and the UK are about to open the taps of their respective strategic oil reserves, and it could have a significant impact on the market

The Biden administration is expected, alongside several other countries, to release some of the spare oil stored in its strategic reserve, multiple news outlets reported on Monday. 

Crude prices have fallen back somewhat as several large oil consumers are considering a strategic reserve release, but talk about NOPEC, a very powerful anti-cartel bill hasn’t died

Shares opened lower in Europe on Tuesday after a mixed session in Asia, as countries...

Stocks are off to a mostly lower start on Wall Street Tuesday as drops in several big...

Unprecedented move to discharge stockpiled crude is in coordination with other countries – China, Japan, India, South Korea and UK.