Sharp drop in oil prices amid instability in Libya, Iran
- Oil prices fell sharply on Monday amid lowering Libyan oil supply and comments from Iran's foreign minister on the potential of increasing oil exports if economic sanctions against his nation are lifted./ On the ICE Futures Exchange in London, prices for April deliveries of brent crude oil tumbled 4.70% or 2.94 to $59.64 a barrel. Last week, brent oil closed at above $62 a barrel, following a volatile week of trading. On the New York Mercantile Exchange, prices for WTI Crude Oil delivery in April fell 0.14 points or 0.28% to $49.62 a ...
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