Oil recoils on concerns of stalemate of Libya conflict, sudden disruption in Kuwaiti oil exports

14-Apr-11
After two day declines, oil prices have recoiled on concerns of conflict in Libya and supply disruptions in the region. Brent crude rebounded above US$122 on fears that the Libya conflict could settle into a bloody deadlock after an African Union-sponsored peace plan failed, while a sudden disruption in Kuwaiti oil exports due to bad weather has boosted sentiment. ICE Brent crude for May rose to US$122.1.
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