February 24, 2011 / 7:51 PM / in 7 years

Oil tumbles on rumors Gaddafi shot - trade

 NEW YORK, Feb 24 (Reuters) - Traders said oil prices fell
by more than $2 a barrel in late Thursday activity on rumors
Libyan leader Muammar Gaddafi had been shot.
 There was no immediate indication of where the rumor had
originated or any news report to substantiate it.
 Traders also cited earlier reports that Saudi Arabia was in
talks with European refiners to make up for the loss of Libyan
crude and rumors of a possible release of U.S. emergency oil
stockpiles as weighing on oil prices.
  (Reporting by New York Energy Desk)

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