SINGAPORE 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)
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