Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers to consider a coordinated release of stocks to lower prices.
The bid by the U.S. administration to shock markets comes as inflationary pressures, partly driven by surging energy prices, starts to produce a political backlash, as the world fitfully recovers from the worst health crisis in a century.
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