Categories: Business

Oil Updates – Prices slides as US holds off refilling strategic reserve


Fri, 2023-03-24 10:16

LONDON: Oil prices fell sharply on Friday amid declining European banking shares and after US Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years, dampening demand prospects.

Brent crude fell $2.50, or 3.3 percent, to $73.41 a barrel by 1031 GMT, while West Texas Intermediate US crude futures dived $2.47, 3.5 percent, to $67.49 a barrel.

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