Oil: Prices Drop After Washington Pressures EU to Release Diesel Stocks

Oil prices have fallen as markets expect European diesel reserves to be released, following Washington's request for the EU to unblock up to 120 million barrels over the next six months. The Brent crude price dropped to $99.60, and WTI fell to $89.37. A European Union meeting in Brussels is underway to coordinate member responses amid high fuel prices, while the US considers banning diesel exports.