HONG KONG: Oil prices tumbled Thursday on reports that the United States is considering tapping its reserves to combat a supply crisis sparked by the Ukraine war.
However, equities struggled to build on the week’s rally after Russia poured cold water on hopes that ceasefire talks were progressing, leaving the prospect of a protracted war in eastern Europe that has already sent shockwaves through the world economy.
WTI tumbled more than five percent and Brent more than four percent as reports said President Joe Biden was looking at releasing a million…
