Oil settled lower for a third straight session supported by the news of a coordinated effort by member states of the International Energy Agency (IEA) to release 60 million barrels into the global marketplace, renewed lockdowns in power-hungry China, indecision in Europe, and a strong dollar.
Brent started April 6 trading at $106.16, and dropped to $100.10 as of 9:30 a.m. ET. West Texas Intermediate (WTI) crude futures likewise lowered more than 5.7 percent over two days and is trading at $96.22 a barrel. Both benchmarks have plunged to their lowest since mid-March.
