The price of oil dropped Thursday after President Joe Biden reportedly asked big oil buyers such as India and Japan – as well as China for the first time – to consider releasing strategic stockpiles of crude. Oil prices sank about 4 percent to a six-week low following reports about Biden's request and China's decision to release some crude reserves, before recovering some ground later in the day. World oil prices fluctuate rapidly in response to speculation about future supply and demand, and the prospect of strategic reserves adding to supply were enough to send prices retreating. 'The market is…