SINGAPORE: Oil prices plunged more than $5 a barrel on Thursday on news the United States was considering the release of up to 180 million barrels from its strategic petroleum reserve, the largest in the near 50-year history of the SPR.
Brent futures for May fell $5.47, or 4.8%, to $107.98 a barrel at 0608 GMT. The May contract expires on Thursday and the most actively traded June futures were down $5.26 to $106.18.
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