2022 March 31   09:16

Crude oil futures are plunging

Oil prices rose by 4.26%-5.43%

As of 31 March 2022, 07:39 (UTC+3), Brent Crude futures for May settlement were trading 4.26% lower at $106.69 a barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for May delivery on the New York Mercantile Exchange fell by 5.43% to $101.96 a barrel.

Crude oil futures are decreasing on US plan to release one million barrels of oil a day from the Strategic Petroleum Reserve.