crude oil prices 8 march 2011 - Brent crude below $115 on reports Gadaffi seeks to end Libya standoff

crude oil prices 8 march 2011 - Brent crude below $115 on reports Gadaffi seeks to end Libya standoff : SINGAPORE, March 8 (Reuters) - Brent crude fell below $115 on Tuesday on reports Libyan leader Muammar Gadaffi was looking for a way to step down and end the fighting that has slashed the nation's exports, and investors were also soothed by OPEC assurances of supply to the market.

As much as 1 million barrels of Libyan output has been disrupted by clashes between Gaddafi and rebels, or about two-thirds of normal production. That is just above 1 percent of global daily consumption.

The industry group American Petroleum Institute will issue its weekly inventory report on Tuesday, at 2130 GMT, followed by government statistics from the U.S. Energy Information Administration on Wednesday, at 1530 GMT . source http://www.forexyard.com/en/news/Brent-crude-below-115-on-reports-Gadaffi-seeks-to-end-Libya-standoff-2011-03-08T035117Z

* Arab media say Gaddafi looking for agreement to step down
* Brent's premium over WTI shrinks to $10 from $17 last week
* Algerian oil minister says market well supplied For the latest updates PRESS CTR + D or visit Stock Market news Today

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