Brent dips below $111 on reduced fears of Libyan supply

|By:, SA News Editor

Brent futures continued to fall this morning, after Libyan supply fears were diminished. Yesterday, the Libyan government negotiated with a rebel leader to finally return the last two captured terminals. Brent futures continued yesterday's decline, setting a new three-week low, by falling below $111 a barrel.

Additionally, crude stocks were reported as falling by more than expected last week, dropping 3.2M barrels, compared to a previous decrease estimate of a 2.2M barrels.

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