After surging above $100 per barrel, WTI prices have fallen precipitously, below $94. The pullback has been mostly ascribed to the potential restart of some Libyan oil output, thanks to a shaky deal with some protesting oil installation occupiers. Last night, however, there was news that the Libyan Navy has fired on at least one tanker that tried to load oil at a seized port, promising an even stronger response going forward.
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