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SYDNEY (Dow Jones)--Crude-oil futures fell in Asia Monday after Libyan
rebels regained control of the towns of Brega and Ras Lanuf where
strategic oil facilities are located.
The rebels' rapid advance over the weekend helped to reassure the
market that key Libyan oil infrastructure remains largely intact, and
crude exports may be able to restart quickly if the ruling regime of
Col. Moammar Gadhafi collapses.
On the New York Mercantile Exchange, light, sweet crude futures for
delivery in May traded at $105.13 a barrel at 0625 GMT, down $0.27 in
the Globex electronic session. The rebound in benchmark West Texas
Intermediate from an intraday low of $105.00 a barrel suggests strong
support at that level that could see crude's rally pick up steam again
later in the week.
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