Crude futures slumped Thursday after the International Energy Agency said it will release 60 million barrels of oil into world markets in the coming month to counteract lost production in Libya. Crude for August delivery /quotes/zigman/2075824 CL1Q -5.28% dropped $5.19, or 5.5%, to $90.21 a barrel on the New York Mercantile Exchange.
- IEA SAYS MEASURE TO ALLEVIATE LIBYA UNREST, IMPACT ON SUPPLY
- IEA SAYS 132 MILLION BARRELS LOST TO LIBYA
- IEA SAYS HIGH PRICES DAMAGE ECONOMY OF EVERY COUNTRY; IMPACT WORSE ON DEVELOPING COUNTRIES
- IEA SAYS VOTED FOR EMERGENCY RELEASE FOR ONLY THIRD TIME
- IEA SAYS TO RELEASE STOCKS
- IEA SAYS TO RELEASE STOCKS TO ENSURE SUPPLY DUE TO LIBYA
Crude futures slumped Thursday after the International Energy Agency said it will release 60 million barrels of oil into world markets in the coming month to counteract lost production in Libya. Crude for August delivery /quotes/zigman/2075824 CL1Q -5.28% dropped $5.19, or 5.5%, to $90.21 a barrel on the New York Mercantile Exchange.
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