WTI Sinks Nearly 4% as EU Weighs Emergency Stockpile Release
Oil prices fell sharply on Friday as Europe moved closer to another emergency stock release under pressure from the Trump administration, with WTI dropping nearly 4% and Brent falling below $100. At 6:54 a.m. ET, WTI was trading at $89.36, down 3.78%, while Brent was trading at $99.79/barrel, down 2
Source: OilPrice.com
―
DW NOTE
The EU is discussing a stockpile release while the Strait of Hormuz has been closed for 218 consecutive days and the IEA projects a 6% global supply decline this year. Strategic reserves exist to address temporary disruptions, not structural blockades. If Brussels believes a few weeks of inventory can offset seven months of lost Iranian and Gulf exports, it has mistaken an accounting entry for a supply chain.