China talked about the work on the release of oil reserves.

US President Biden’s administration has asked India, Japan, South Korea and China to use the stocks of oil from storage facilities for sale to help keep fuel prices down. After that, the Department of State Reserves of China announced that it was working on the release of oil reserves, but did not specify whether this was related to Biden’s appeal. Against this background, oil prices fell by about 4 percent – to a six-week minimum. As of this writing, fuel prices have recovered a little bit. Now a barrel of Brent is trading at $80.1.