Oil Prices Drop After Europe Agrees to Draw Down Diesel Stocks
Agencies1 min read
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Oil prices fell by two dollars on Friday after European leaders agreed on Friday to U.S. President Donald Trump's request to withdraw quantities from their diesel reserves in order to lower prices and reduce the need to import fuel from the United States.
Brent crude fell $1.80 or 1.76% to $100.50 per barrel. U.S. West Texas Intermediate crude fell $2.20 or 2.18% to $90.85 per barrel.
Both crudes are heading for weekly losses with Brent down about 2.84% since the beginning of the week and West Texas Intermediate down about 1.54%.
