NYMEX crude hovers around $100/b after US announces SPR release
Crude oil futures were largely steady in mid-morning Asian trade April 1 as prices consolidated after US President Joe Biden’s announcement of a Strategic Petroleum Reserve release sent crude prices diving more than $5/b overnight. At 10:19 am Singapore time (0219 GMT), the ICE June Brent futures contract was up 6 cents/b (0.06%) from the previous close at $104.77/b, while…