Quake Still Pushing Down World Oil Prices

March 17, 2011
The price of oil on world commodity exchanges was falling Thursday morning due to dropping demand in Japan for fuel.

The price of an April futures contract for WTI light sweet crude in electronic trading on Nymex was down $1.38 cents to $96.60 a barrel by 6:50 Moscow time. The price of an April futures contract for North Sea Brent blend had dropped 75 cents to $109.85 in London.

Oil prices fell the day before on instability in Bahrain and Libya which investor believe could interfere with supplies. April WTI contracts dropped  80 cents to $97.98 a barrel, while April Brent contracts were off $2.10 to $110.62 per barrel.

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