Crude Oil Declines as OPEC May Hold Emergency Meeting Amid Libyan Turmoil

Bloomberg reports crude oil prices fell as members of the OPEC may decide to hold a special meeting amid Libyan unrest.

The market news is quoted as saying:

Crude slipped as much as 2 percent after Kuwait’s oil minister said OPEC members are considering whether to convene an “urgent meeting.” Futures trimmed losses as opponents of Libyan leader Muammar Qaddafi sought to recapture Bin Jawad. Goldman Sachs Group Inc. and Bank of America Merrill Lynch today raised oil-price forecasts.

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