Oil prices fall more than $1, dropping to five-year lows

By Samantha Sunne NEW YORK (Reuters) - Crude oil prices on tumbled on Monday, with global grades settling down more than $1 a barrel after an early rally fizzled and prices fell to their lowest levels since May 2009. News of further damage Libya's oil infrastructure prompted the early rally that was quickly erased as pervasive fears of global oversupply trumped concerns about output curtailment from the OPEC producer. Phil Flynn of Price Futures Group said the rally may have triggered sell stops. Then once the Brent dropped below $54, a previous low, more stops may have been triggered. ...

from Business News Headlines - Yahoo! News http://news.yahoo.com/u-oil-climbs-above-55-barrel-renewed-libyan-010516358--finance.html

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