Stocks Follow Oil Lower on Reserve Talks
A man refuels his car as gas prices are reflected into the windows of the United Oil gas station in Los Angeles, California March 24, 2012. REUTERS/Bret Hartman
Reuters - by Rodrigo Campos - March 28, 2012
(Reuters) - Oil prices fell on Wednesday as the U.S. and some European governments mulled the release of strategic oil reserves, while commodity-related shares weighed on global equities.
U.S. stocks closed weaker, though far from the day's lows, in the wake of economic data that was slightly below expectations.
France, the United States and Britain are in talks about the possible release of strategic oil stocks to help push fuel prices lower, French ministers said, only weeks ahead of the country's presidential election. Purchasing power is among voters' top concerns.