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    market news

    Oil Market’s ‘Knee Jerk Reaction’ to Libya

    Investing News Network
    Aug. 22, 2011 10:27AM PST
    Oil and Gas Investing

    CNN Money reports that Brent oil, Europe’s benchmark, plunged 1.2% to $107.27 a barrel, after reports of Moammar Gadhafi’s regime on the brink of defeat.

    CNN Money reports that Brent oil, Europe’s benchmark, plunged 1.2% to $107.27 a barrel, after reports of Moammar Gadhafi’s regime on the brink of defeat.

    The market news is quoted as saying:

    The decline in Brent may eventually translate into lower U.S. crude prices, but for now those prices are up 2% at $83.46 a barrel.

    Click here to access the entire news

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