Brent oil prices open today’s trading session back under $125 a barrel after news of Osama bin Laden’s death had investors selling oil futures in a hope that oil supply concerns from the Middle East may ease, however many traders are on holiday with markets closed today in the UK, China, Hong Kong, Malaysia and Singapore.
Latest Brent Oil Price
In London, Brent crude oil futures for June 2011 delivery was trading at $124.49 a barrel, 08.15 GMT this morning on the ICE Futures Exchange.
Brent oil futures fell over one percent in early trading Monday after the first reports that bin Laden, who orchestrated the 11th September 2001 attacks on New York and Washington, was dead.
Obama confirmed the Al-Qaeda leader died during a firefight in Abbottabad, Pakistan.
Meanwhile, both Brent and US WTI oil prices traded lower on signs China’s economic growth may moderate, cooling oil demand in the world’s second biggest crude oil user.
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Brent oil prices drop to $125 in lighter holiday trading session
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