RealNews

Oil prices drop on Mideast cease-fire

Oil prices dropped nearly a dollar Monday as traders anticipated the upcoming Mideast cease-fire and responded to the positive news that BP would be able to maintain half of its production at a large oil field in the U.S. state of Alaska. Light sweet crude for September delivery fell .92 cents to $73.43 a barrel in mid-afternoon Asian electronic trading on the New York Mercantile Exchange. Full Story

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