Tuesday 22 March 2011

Oil weakens, absorbing Libya conflict - Maktoob News

Oil prices eased on Tuesday, with Brent hovering below $115 on an anticipated slowdown in Western air strikes on Libya

Anti-aircraft fire rang out across Tripoli for a third night on Monday, but U.S. President Barack Obama, wary of getting sucked into a Libyan civil war, said the United States will cede control of the air assault in days.

Front month Brent crude was 29 cents lower at $114.67 at 1212 GMT, still within sight of a two and a half year high near $120 hit last month.

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