Oil slides as rebels take Libyan ports

AP News
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Posted: Mar 28, 2011 3:52 PM
Oil slides as rebels take Libyan ports

Oil prices slipped below $105 per barrel Monday after Libyan rebels recaptured some key oil ports and promised to resume exports. Prices are still 22 percent above what they were in mid-February, when fighting in Libya squeezed off shipments that had supplied nearly 2 percent of the world's oil.

Here is how energy commodities traded Monday:

On the New York Mercantile Exchange:

_Benchmark crude: lost $1.42 to settle at $103.98 per barrel;

_Heating oil: fell 3.03 cents to settle at $3.0412 per gallon;

_Gasoline: dropped 2.19 cents to settle at $3.0276 per gallon;

_Natural gas: fell 2.9 cents to settle at $4.374 per 1,000 cubic feet;

On the ICE Futures exchange:

_Brent crude: dropped 84 cents to settle at $114.58 per barrel.