Roundup: Oil price retreats below 100 USD as G7 signals readiness to release emergency reserves

LONDON, March 9 (Xinhua) -- Global oil prices retreated below 100 U.S. dollars per barrel Monday after briefly surging to their highest level in nearly two years, as the Group of Seven (G7) signaled readiness to release emergency reserves amid escalating tensions in the Middle East.

Brent crude, the international benchmark, surged to around 119.5 dollars per barrel in intraday trading, its highest level since mi