By David Gaffen NEW YORK (Reuters) -Oil futures fell sharply on Wednesday after large consuming nations said they would release oil from reserves to counter tightening supply and hawkish minutes from the U.S. central bank that bolstered the dollar. Selling accelerated into the close, leaving both the Brent and West Texas Intermediate benchmarks at their lowest closing levels since March 16. Brent crude futures settled down $5.57, or 5.2%, at $101.07 a barrel, while U.S. crude fell $5.73, or 5.6%, to $96.23 a barrel. Member states of the International Energy Agency (IEA) will release 120 millio…