Crude prices slide as Libyan rebels agree to reopen oil ports

|By:, SA News Editor

Brent crude prices slip below $106/bbl as worries about supply disruptions ease after Libyan rebels occupying four eastern oil ports agree to gradually end their eight-month blockade.

Libya's Zueitina and Hariga ports, held by federalist rebels demanding more autonomy from Tripoli, will open immediately, while larger ports Ras Lanuf and Es Sider apparently will be freed in two to four weeks after more talks.

Energy companies with a significant presence in Libya include Total (TOT), Statoil (STO), ConocoPhillips (COP), Marathon Oil (MRO), Hess (HES), Occidental Petroleum (OXY) and Repsol (REPYF, REPYY).

ETFs: USO, OIL, UCO, SCO, DTO, DBO, BNO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM, TWTI