Oil prices plunged lower Wednesday amid a leadership change at Libyan Central Bank.
Experts say that could be a factor in the eventual return of some of the country’s recently shut down oil production.
West Texas Intermediate crude dropped 2.6% to settle at $69.69 a barrel Wednesday.
Brent crude for November settlement dropped 2.3% to settle at $73.46 a barrel.
Rigzone.com quotes Fawad Razaqzada, an analyst at City Index and Forex.com, as saying in a note: (The) weakness suggests demand (for oil) concerns linger,” in a note.
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