U.S. cautious on strategic reserve refilling, oil prices fluctuate.

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Source: CNBC
U.S. cautious on strategic reserve refilling, oil prices fluctuate.
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TL;DR Summary

Oil prices fell on worries about potential oversupply after US Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve may take several years. Brent crude futures slid 3.2% to $73.52 a barrel, while US West Texas Intermediate crude futures dropped 3.4% to $67.56 a barrel. The White House said in October it would buy back oil for the SPR when prices were at or below about $67-$72 per barrel. Continued crude supply from Russia to the global market also added to pressure.

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