Oil Prices Edge Lower as Supplies Rise, Tensions Ease
Wall St Journal
Updated Aug. 22, 2014 10:02 a.m. ET
Oil prices slipped Friday amid increasing global supplies and easing geopolitical tensions, while markets awaited macroeconomic signals from the central banker retreat in Jackson Hole, Wyo.
Light, sweet crude for October delivery fell 78 cents, or 0.8%, to $93.18 a barrel on the New York Mercantile Exchange. Brent futures on the ICE Futures Europe exchange were down 23 cents, or 0.2%, at $102.40 a barrel.
The first tanker of crude from Libya's revived production left port and was looking for a buyer, Energy Market Institute analyst Dominick Chirichella said in a note. The Italian tanker Maria Bottiglieri was expected to be loaded with 600,000 barrels from Libya's Es Sider terminal, the country's largest.
Meanwhile, there was little news of advances
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