Stocks opens lower, oil slides ahead of release of crude

The Associated Press

Wall Street is opening lower and oil prices are falling as President Joe Biden prepares to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve. It’s an effort to control energy prices, which have soared following Russia’s invasion of Ukraine in late February. Crude oil prices fell about 3% in the early going on Thursday. Stock indexes were mostly lower in early trading. The market is heading for a gain in March but it’s still on track to close out the first quarter lower after a rocky start to the year.