Oil prices down after Libyan militia makes deal



LONDON–Oil prices fell Monday after reports that a Libyan militia agreed to reopen some oil terminals, possibly boosting global supplies.

Benchmark U.S. crude for May delivery was down 53 cents to US$100.61 a barrel at 0915 GMT in electronic trading on the New York Mercantile Exchange. The contract gained 85 cents to close at US$101.14 on Friday. The price has vacillated around US$100 per barrel for most of the past month.

Brent crude, used to set prices for international varieties of oil, sank 93 cents to US$105.78 a barrel on the ICE exchange in London.

In other energy futures trading in New York:

— Wholesale gasoline fell 1.7 cents to US$2.914 a gallon.

— Natural gas rose 6.1 cents to US$4.50 per 1,000 cubic feet.

— Heating oil shed 1.7 cents to US$2.891 a gallon.