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Oil prices slip down as US releases oil from reserves

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Oil prices continued to fall on Friday, headed for the worst weekly loss in two years after the US decision to release the largest volume from the US Strategic Petroleum Reserve – 180 million barrels over the next six months.

Crude prices that were already falling on Thursday in anticipation of the US move, weakened further after President Joe Biden’s announcement to release oil stockpiles.

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National News

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