Oil Prices Recover as Tensions in MENA Under Spotlight Again

Commodities recovered in European session after yesterday's severe selloff. While fears about the impacts of Japan's disasters on global economic growth remain intact, investors shifted their focus back to geopolitical tensions in the MENA region. Unrest in Libya and Bahrain helped contain oil's decline with the front-month WTI crude oil contract rebounding above 98 after extending weakness to as low as 96.22 earlier in the day.

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Oil Prices Recover as Tensions in MENA Under Spotlight Again