🔴 Oil Fund (USO) is trading 4.2% down after proposed diesel and crude reserve releases

USO is trading at $143.66, down 4.24%, as proposed reserve releases potentially ease supply concerns.

• European governments discussed a French proposal to release 50 million barrels of diesel, alongside 50 million barrels of crude from IEA members.
• Faster recovery of Middle East Gulf oil flows also reduced concerns about supply disruptions.
• A reported 922,000-barrel U.S. crude-inventory build added pressure, but proposed reserve releases were the clearest catalyst.