Oil prices drop; geopolitics still a concern

By
April 9, 2007 16:06

Oil prices fell Monday following last week's release of British sailors detained by Iran, but concerns over the tight US demand-supply balance and other geopolitical issues supported prices. Light, sweet crude for May delivery fell 44 cents to $63.84 a barrel in electronic trading on the New York Mercantile Exchange at midday in Europe.


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