Oil prices fell further on Wednesday, as reports of the International Energy Agency (IEA) proposing the largest release of oil reserves in its history due to potential supply disruptions from the US-Israeli conflict with Iran dragged on sentiment.
Brent futures traded down 88 cents, or 1 per cent, at $86.92 a barrel by 04:51 GMT. US West Texas Intermediate (WTI) CLc1 traded 35 cents lower, or 0.4pc, at $83.1 a barrel.
US crude prices leapt 5pc at the market open after both contracts plunged more than 11pc on Tuesday, the steepest percentage drop since 2022, a day after Trump pre
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