The price of oil has fallen as a number of key nations consider releasing reserves to increase supplies.
France says it is talking to the United States and Britain about tapping their oil reserves to help calm the volatile oil price.
Brent crude prices fell overnight on Wednesday to about $US124 US a barrel, while US light crude fell more than $US2 to $US105 US a barrel.
The head of global commodity research at Bank of America/Merrill Lynch, Francisco Blanch, says the bigger problem is supply being tight due to disruptions in Libya and Iran and weaker production in the United Kingdom and Norway.
Despite lower crude prices, fuel costs have risen, sparking anger and protests from Jakarta to Berlin, and it has become a major issue in the US presidential election.
