FXstreet.com (Córdoba) - Crude oil hovers around $91 a barrel on Friday after prices slumped nearly 5% the day before on the announcement the IEA will release emergency crude supplies.
Crude for August delivery in New York fell around 1.87% on Friday toward an intraday low of $90.51 a barrel after peaking at $92.39 during the Asian session. Contract is currently at the $91.30 region, 1.02% lower since opening.
Oil slumped on Thursday toward its lowest price in 4 months at $89.70 a barrel after the International Energy Agency said it will release 60 million barrels from emergency stockpiles over 30 days, half of which will come from the US Strategic Petroleum Reserve.
In London, Brent for August delivery is at $106.97 a barrel, 1.04% below its opening price.
