Oil steadies following release of reserves

Tuesday, the US announced a coordinated release of strategic reserves with China, India, South Korea, Japan and the UK.


Oil increases further Wednesday morning following Tuesday's rise. The price steadies from Tuesday, while investors remain skeptical of the effects of the US-led coordinated release of strategic reserves.

A barrel of European reference oil Brent trades Wednesday morning for USD 82.20 against USD 81.44 Tuesday afternoon.

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