Oil steady as investors question reserve release | Reuters
Oil prices were steady on Wednesday as investors questioned the effectiveness of a U.S.-led release of oil from strategic reserves and turned their focus to how producers will respond.
Brent crude futures were down 15 cents or 0.1% at $82.16 a barrel by 1311 GMT, having jumped by 3.3% on Tuesday.
U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.2%, to $78.34 after a 2.3% gain the previous day.
The United States said it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to try to cool prices after OPEC+ ignored calls to pump more. read more
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