Brent crude fell more than 3% to around $99 a barrel on Friday as European governments considered releasing strategic oil reserves (government-held emergency stockpiles) to contain rising fuel costs. EU members were reportedly discussing a French proposal to release crude and refined-fuel reserves as Washington pressed European partners to address diesel shortages and avoid potential U.S. export restrictions. Treasury Secretary Scott Bessent urged Europe to help stabilise supplies disrupted by turmoil in the Persian Gulf and Ukrainian attacks on Russian refineries. Middle Eastern crude flows have moved close to pre-war levels, but uncertainty remains because Washington and Tehran are far from a lasting agreement to fully reopen the Strait of Hormuz. Reported tanker attacks have kept shipping risks elevated, while the U.S. has reportedly strengthened air defenses protecting energy facilities in Saudi Arabia and Qatar.