Go Finance Reporting in LONDON - Oil prices fell today after Libyan leader Moammar Khaddafi said, if it would halt military action in response to a UN resolution for immediate ceasefire.
As quoted by Reuters on Saturday (03/19/2011) Nymex crude oil traded down 69 cents at USD114, 21 per barrel, whereas in the previous session had reached USD117, 29 per barrel.
However Pranci still reminded to continue to be careful because the threat of Libyan soil because Kaddafi more valued than the action rather than words.
The fall in oil prices was driven still volatile situation in Bahrain. Also because of fears of nuclear crisis in Japan that drain to avoid risk sentiment in global financial markets.
MF Global senior commodities analyst Edward Meir said, oil prices have risen too much considering the loss of demand from Japan as the country's oil consumers to-3 after the United States and China. (GoFinance)
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