Japanese Chief Cabinet Secretary Minoru Kihara said in a news conference in the Asian trade on Monday that there are no plans for a fresh release of crude oil from national reserves as the country had already released crude supplies, despite a G7 agreement to release 100 million barrels of diesel and crude from emergency reserves, Reuters report.
Market reaction
No immedaite action is seen in the Japanese Yen (JPY) after the release of remarks from Japan’s Kihara on oil release. At press time, uSD/JPY trades 0.1% higher to near 158.00 due to upbeat US Dollar (USD).
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