Oil futures tumbled more than $5 a barrel on news that the Biden administration is considering releasing about 1 million barrels a day from the U.S. Strategic Petroleum Reserve (SPR) for several months to cool surging crude prices.
Brent crude futures were down $4.71, or 4.2 percent, at $108.58 a barrel by 0035 GMT. U.S. West Texas Intermediate futures fell $5.45, or 5 percent, to $102.74 a barrel.
At an earlier time, gasoline prices had already reached record levels because of the Russia-Ukraine conflict.
The prices of other commodities like the Calcium stearate emulsion are also expected to be volatile.
COVID-19 has led to many sites shutting down. What is the impact on China's foreign trade enterprises as a whole and small, medium and micro foreign trade enterprises?
. It is learned that some foreign trade enterprises have been affected by the epidemic and are facing periodic problems in Calcium stearate emulsion operated by foreign trade enterprises will also fluctuate with the changes of the epidemic. Contact us for the latest quotation on Calcium stearate emulsion.
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