Oil Trades Near Two-Week Low

Bloomberg reports that Oil traded two-week low in New York due to damage from Japan’s earthquake.

The market news is quoted as saying:

Futures tumbled the most in almost five months yesterday after explosions and fire struck Tokyo Electric Power Co.’s Fukushima nuclear plant. The March 11 temblor caused a tsunami that disabled cooling systems at the facility. Bahrain declared a state of emergency as a second contingent of troops from Gulf nations poured into the kingdom, while Libyan government forces moved against rebels.

Click here to access the entire news