EU Weighs Emergency Oil Stockpile Release Amid US Pressure

The price of WTI oil dropped nearly 4% on Friday as European governments weighed an emergency stockpile release under pressure from the Trump administration.

Brent crude fell below $100 per barrel, trading at $99.79/barrel, down 2.46%, while WTI plummeted to $89.36, down 3.78%.

The move comes as Europe discusses another coordinated release of emergency oil stocks in response to the global fuel crunch, with European Energy Commissioner Dan Jørgensen stating that 'we've used it before, and we'll likely use it again.'

The EU holds about 39 million tons of diesel, equivalent to more than two months' consumption, with Germany and France holding approximately 35% of the bloc's strategic reserves.