Oil prices fall as rebels close in on Libyan capital

BBC

22 August 2011 Last updated at 02:10 GMT

Oil prices have fallen on speculation the conflict in Libya may be coming to an end as rebels entered the capital Tripoli.

Brent crude futures fell $1.54 to $107.08 a barrel, while US light crude fell 0.7% to $81.65 in early Asian trade.

Markets were hoping an end to the conflict will see Libya's oil exports restored, increasing global supplies.

Libya is the world's 12th-largest oil exporter.

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