Brent drops more than $3, on possible Libya peace plan

SINGAPORE Thu Mar 3, 2011 12:33pm IST

A customer fills his motorcycle at a petrol station in Nice, southeastern France, March 2, 2011. REUTERS/Eric Gaillard

A customer fills his motorcycle at a petrol station in Nice, southeastern France, March 2, 2011.

Credit: Reuters/Eric Gaillard

Related Topics

SINGAPORE (Reuters) - Brent crude fell more than $3 on Thursday to an intra-day low of $113.09 per barrel as investors eyed a possible peace deal in Libya brokered by OPEC-member Venezuela.

The head of the Arab League confirmed that a Venezuelan peace plan mooted by President Hugo Chavez was being considered by Libyan leader Muammar Gaddafi.

U.S. oil prices dropped $1.19 to $101.04 per barrel.

(Reporting by Luke Pachymuthu; Editing by Ed Lane)

FILED UNDER:

REUTERS SHOWCASE

2015: India Outlook

2015: India Outlook

India in 2014: A dream run for markets  Full Article 

Funding Woes

Funding Woes

Co-founder of SpiceJet seeks time to finalise rescue  Full Article 

Regulating Airfares

Regulating Airfares

India considers temporary cap on airfares - government official  Full Article 

Flying Back on Course

Flying Back on Course

The inside story of the new Airbus A350 jet  Full Article 

Oil Price Forecast

Oil Price Forecast

Oil prices likely to rebound in second half of 2015: poll  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but says no proof N.Korea hacked Sony  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage