Oil market falls on Libya news
Monday, 7 April 2014
Global oil prices weakened on Monday after rebels agreed to reopen two of the four blockaded oil terminals in eastern Libya, analysts said. New York's West Texas Intermediate (WTI) for delivery in May dipped 47 cents to $100.67 per barrel. Brent North Sea crude for May dropped $1.14 to $105.58 a barrel in early afternoon London deals. "News from Libya (is) weighing on the prices," said Commerzbank analyst Carsten Fritsch. "At the weekend, the government there agreed with rebels that the four oil terminals in the east of the country which have been occupied by rebels for eight months now will be opened step by step, according to AFP.