U.S., Brent crude futures pressured by report of U.S. SPR release
NEW YORK, March 12
NEW YORK, March 12 (Reuters) - U.S. and Brent crude futures extended losses on Wednesday after a report of plans for a 5-million barrel release and sale of crude oil from the U.S. Strategic Petroleum Reserve to test the infrastructure.
The timing of the test sale was not clear.
U.S. April crude futures were down $1.57 at $98.46 a barrel at 10:22 a.m. EDT, while April Brent was down 75 cents at $107.80 a barrel. (Reporting by Robert Gibbons; Editing by Jeffrey Benkoe)