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(Image from article: "IEA: Countries to release 60M barrels of oil")

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IEA: Countries to release 60M barrels of oil

The International Energy Agency says 28 countries have agreed to release 60 million barrels of crude to the market to offset disruptions prompted by Libya's war.

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Crude Oil Hits 2 and a Half-Year High

Brent crude rose towards $120 a barrel and U.S. crude hit a 2-1/2-year high above $108 on Monday as unrest in the Middle East and North Africa kept the focus on oil supplies as economic growth bolstered demand for fuel.

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