Oil prices drop as China releases fuel reserves to beef up domestic supply

Global crude prices

Global crude prices slid on Monday after China released gasoline and diesel reserves to increase the domestic market supply and stabilize prices.

Brent crude futures fell 0.4% to $83.43 a barrel by 4:00am GMT. US benchmark West Texas Intermediate (WTI) crude futures lost 0.5%, trading at $83.17.

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