Oil release could see commodities peak

THE oil price rose overnight after the US government announced it would release 50 million barrels from its strategic reserves in concert with China, Japan, India, South Korea and the UK.

Oil release could see commodities peak Oil release could see commodities peak Oil release could see commodities peak Oil release could see commodities peak Oil release could see commodities peak

The White House said president Joe Biden was "helping to lead the world in addressing oil supply imbalances".

West Texas Intermediate crude oil was up 2.5% to US$78.66 per barrel.

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