The U.S. and 30 other nations are releasing oil from reserves to try to calm markets

By Camila Domonoske

Gas prices are seen at a gas station in Vernon Hills, Ill., on June 11, 2021. Crude prices continued to gain on Thursday even after the U.S. and 30 other countries announced a coordinated release of oil from their reserves.

Oil-consuming nations will bring 60 million barrels of crude out of storage and onto global markets. It’s supposed to calm oil prices down, but global crude went up on the news.

(Image credit: Nam Y. Huh/AP)

Source: The U.S. and 30 other nations are releasing oil from reserves to try to calm markets

    

Updated: March 1, 2022 at 6:51 pm