Market News / Story
Crude oil turns lower as IEA agrees to accelerate oil stock release, prioritize diesel
Seeking Alpha ·
Seeking Alpha reports: Crude oil futures gave up early gains and settled lower Wednesday after the International Energy Agency agreed to speed up a planned release of oil stocks and prioritize diesel "given the current tightness" in markets. The IEA's announcement follows Friday's hastily arranged meeting where an agreement was reached to release 100M barrels of oil to the market over the next four months, but the agency said Wednesday the release would come from the 400M-barrel stock…