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US plans to release 172 million barrels of oil to suppress prices, on-chain crude oil pre-market gains narrow by 4%
Mars Finance News, March 12 — According to Hyperinsight monitoring, the gains of CL (WTI crude oil) and BRENTOIL (Brent crude oil) on Hyperliquid have narrowed simultaneously. CL prices briefly fell below $90, down 4.2% from the high point at 12:00 today, currently at $90.1. According to official sources, less than two weeks after the outbreak of the Iran war, the Trump administration plans to release 172 million barrels of oil from the U.S. Strategic Petroleum Reserve. This is part of the International Energy Agency (IEA) member countries’ plan to release a total of 400 million barrels of oil reserves globally. After the news was released at 12:00 today, the market responded quickly, with pre-market crude oil prices retreating from earlier gains.