Another OPEC Giant Is Sending Crude Oil Prices Lower
Crude oil prices are falling again, on word of OPEC member Libya's plan to reopen its oil ports as soon as this coming weekend. As of this writing late on Monday afternoon, Texas Intermediate (WTI) and Brent crude futures are lower, with WTI October deliveries down to $37.26 per barrel, while Brent November deliveries are below $40.
Today's decline comes following a statement from the U.S. Embassy in Libya, released on Saturday, that the factions fighting over control of the North African country had reached an agreement that would allow the national oil company to begin exporting crude oil from the country's terminals that have been blockaded since the beginning of the year.
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Source Fool.com
