Oil Falls Overnight on Renewed Calls to Release Strategic Reserves

“BANGKOK (AP) — Crude prices fell Wednesday after finance ministers from the world’s leading industrialized economies called on oil producers to increase output and said they stood ready to ask the International Energy Agency to release strategic reserves.

Benchmark oil for October delivery fell 72 cents by late afternoon Bangkok time to $95.61 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents to finish at $96.33 per barrel on the Nymex on Tuesday.

Brent crude fell 80 cents to $111.78 in the ICE Futures exchange in London.”

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