Oil Prices Plunge as US, Europe Tap Strategic Reserves

Kevin G. Hall for McClatchy Newspapers @ Truthout - Oil prices dropped sharply Thursday on news that the U.S. and Europe will sell 60 million barrels of oil from their strategic reserves over the next 30 days, a move experts called an important policy shift that should help restrain volatile energy prices.  Oil prices for month-ahead delivery fell by $4.39 a barrel, or almost 5 percent, to settle at $91.02 on the New York Mercantile Exchange.  Read more.