The price of oil began to fall again on Friday, giving up most of the gains it had made the previous day in the first rally in two weeks.
Benchmark U.S. crude for August delivery was down
Oil prices shot up in the last month to a 10-month high over concerns that strife in
Also putting downward pressure on prices is the prospect of a sudden return of Libyan oil to the global market. Libyan exports have been all but cut off over the last several months because of labor and political strife that has shut ports and disrupted production. Agreements with local militias are now expected to open two ports, and a major field restarted production Tuesday.
Brent crude, a benchmark for international oils, fell
In other energy futures trading:
— Wholesale gasoline fell
— Natural gas added
— Heating oil was down
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