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00:02Oil prices fell sharply Friday morning after reports that European Union countries were
00:06discussing a proposal to release diesel and crude reserves to ease a global supply shortage,
00:11according to CNBC.
00:12Brent crude futures fell 3.1 percent to $99.13 per barrel, while West Texas Intermediate
00:19futures dropped 4 percent to $89.18.
00:22Reuters reported that France proposed that EU nations release 50 million barrels of diesel
00:27and International Energy Agency members release 50 million barrels of crude.
00:31The EU is holding crisis talks, Friday after U.S. Treasury Secretary Scott Besant urged European
00:37countries to make additional supplies available.
00:40Oil prices rose in the previous session after reports that the U.S. was sending a third aircraft
00:44carrier strike group and 2,000 Marines to the Middle East, raising the risk of further escalation.
00:49For all things money, visit Benzinga.com.
