Oil eases on US plan to sell more crude from strategic reserve
Oil fell on a US plan to sell more crude from its reserves, offsetting a lift from Russian output cuts and rising Chinese demand.
strategic reserves
China in talks with Russia to buy oil for strategic reserves
China is seeking to replenish its strategic crude stockpiles with cheap Russian oil, a sign Beijing is strengthening its energy ties with Moscow just as Europe works toward banning imports due to the war in Ukraine.
Japan joins ranks of oil consumers weighing stockpile releases
Japan is considering releasing oil from its strategic stockpiles, joining China and the US in a coalition of consumers that wants to tame a surge in energy prices that’s triggered a jump in inflation.
China intervenes in oil market with historic sale of reserves
China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices.
Cairn, BP and Parkmead among fallers on bad day for energy stocks
A drop in oil prices triggered by a joint US and UK move to release strategic reserves pulled energy stocks and the wider FTSE 100 Index into the red today.