economy
March 12, 2026
Massive emergency oil release fails to stem investor fears as oil tops $100 a barrel
Updated on: March 12, 2026 / 11:12 AM EDT / CBS News
TL;DR
- Oil prices, specifically Brent and WTI crude futures, have surpassed $100 a barrel.
- The International Energy Agency has coordinated a release of 60 million barrels from strategic reserves.
- Despite the reserve release, investor fears regarding potential supply disruptions from Russia persist.
- These fears are currently overshadowing the impact of the emergency oil release on market prices.
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