Oil falls after Libya calls halt to military action
LONDON (Reuters) – Oil prices fell on Friday after Libyan leader Muammar Gaddafi's government said it would halt military action in response to a U.N. resolution for an immediate ceasefire.
Brent crude was trading 69 cents lower at $114.21 by 1352 GMT, off a session high of $117.29 and up from the day's low of $113.07. U.S. crude shed 57 cents to $100.85.
that was quick, will it last?
http://news.yahoo.com/s/nm/20110318/bs_ … arkets_oil
I think it peculiar that our country relies so heavily on the speculation of the oil and most decidedly on the stock markets to judge the health of the economy. Even when the oil prices were fairly steady and the stock markets were making record highs and gains the recession just deepened with each passing revelation.
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