World’s Biggest Buyers Plans to Release Strategic Reserves of Oil
Following China, some Asia countries responds to U.S. call for coordinated strategic release of oil reserves 
Following China, some Asia countries responds to U.S. call for coordinated strategic release of oil reserves
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In a coordinated move initiated by U.S. earlier, some of the world’s biggest crude oil buyers said they are planning to release strategic reserves of oil in order to tame soaring oil prices, according to Reuters.
Following earlier news of China making a judgement on releasing strategic reserve, WTI inched down sharply to $77.77 per barrel and Brent inched down to $79.99 per barrel as of Thailand time 16:05 hours.