NEW YORK, April 6 (Xinhua) -- Oil prices dipped on Wednesday after news that members of the International Energy Agency (IEA) are planning a big release of emergency reserves.
The West Texas Intermediate (WTI) for May delivery lost 5.73 U.S. dollars, or 5.6 percent, to settle at 96.23 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased 5.57 dollars, or 5.2 percent, to close at 101.07 dollars a barrel on the London ICE Futures Exchange.
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