Crude Oil was pushing $120/barrel last night.Then, a headline by the FT showed that G7 countries are thinking of unleashing 400M of the 1.8B barrels of oil they have in their collective reserves.Crude is now struggling to stay above $100/barrel.Not a long term solution, but in the short term it is calming markets down. Futures recovered 50% of their losses.The question now becomes what other strategies are in place to keep oil coming down, or will we have to accept oil being at these levels for the time being…Source: amit