Oil prices fell more than $2 a barrel on Monday April 18, 2011 to under $122 a barrel after OPEC ministers said high oil prices could place a major strain on consumer countries, and S&P revised its U.S. outlook to negative.

Leading OPEC member Saudi Arabia on Sunday confirmed it had cut output by more than 800,000 barrels per day (bpd) in March because of weak demand. Read more »

Oil prices hovered below $109 a barrel Thursday April 7, 2011 in Asia amid concern rising fuel costs could undermine U.S. economic growth and demand for crude.

Benchmark crude for May delivery was down 13 cents at $108.70 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract gained 49 cents to settle at $108.83 on Wednesday April 6, 2011.

In London, Brent crude for May delivery was down 33 cents to $121.97 a barrel on the ICE Futures exchange. Read more »

Oil prices fell to near $104 a barrel Wednesday March 30, 2011 after a report showed U.S. crude supplies rose more than expected last week, suggesting rising fuel costs may be crimping demand.

By early afternoon in Europe, benchmark crude for May delivery was down 47 cents to $104.32 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 81 cents to settle at $104.79 on Tuesday March 29, 2011.

In London, Brent crude was down 38 cents at $114.78 a barrel on the ICE futures exchange. Read more »

Oil prices are sliding after Libyan rebels recaptured oil ports and promised to resume exports. Much of Libya's oil exports go to Europe.

Benchmark crude had jumped 24 percent since mid- February as fighting in Libya squeezed off oil shipments that previously supplied nearly 2 percent of the world's oil.

How quickly the rebels could resume exports is unclear, as is who would risk buying the oil. The news was still enough to drop oil by $1.38 to $104.04 per barrel in morning trading, today March 28, 2011, on the New York Mercantile Exchange. Read more »