Crude slides more than $5/b as US considers 1 mil b/d SPR release

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Crude oil futures plunged more than $5/b in Asian morning trade March 31 following news that US President Joe Biden was considering to release 1 million b/d of oil amid high energy costs. At 10:00 am Singapore time (0200 GMT) prices retracted slightly with the ICE June Brent futures contract down $3.76/b (3.37%) from the previous close at $107.68/b, while…