Oil prices down after Libyan militia makes deal
April 8, 2014, 12:15 am TWN
LONDON--Oil prices fell Monday after reports that a Libyan militia agreed to reopen some oil terminals, possibly boosting global supplies.
Benchmark U.S. crude for May delivery was down 53 cents to US$100.61 a barrel at 0915 GMT in electronic trading on the New York Mercantile Exchange. The contract gained 85 cents to close at US$101.14 on Friday. The price has vacillated around US$100 per barrel for most of the past month.
Brent crude, used to set prices for international varieties of oil, sank 93 cents to US$105.78 a barrel on the ICE exchange in London.
In other energy futures trading in New York:
— Wholesale gasoline fell 1.7 cents to US$2.914 a gallon.
— Natural gas rose 6.1 cents to US$4.50 per 1,000 cubic feet.
— Heating oil shed 1.7 cents to US$2.891 a gallon.