Libyan Export Decline and Fed Speculation Propel Oil Above 70 Dollars

Oil prices surged over 2%, with West Texas Intermediate settling above $70 a barrel, driven by slumping Libyan exports and expectations of aggressive Federal Reserve rate cuts.Oil prices surged over 2%, with West Texas Intermediate settling above $70 a barrel, driven by slumping Libyan exports and expectations of aggressive Federal Reserve rate cuts.  Read More