Oil drops, but gasoline prices keep rising
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Oil prices fell below $97 per barrel Monday just days after spiking above $100. Last week's surge continued to ripple through global pipelines, however, as gasoline prices jumped 8 cents over the weekend.
Crude dropped on reports that Libya was still exporting oil. Shipments were thought to have halted last week as protestors clashed with the government and strongman Moammar Gadhafi lost control of many of the country's oil fields. But industry officials said Monday that a tanker bound for China was loading oil in the Libyan port of Tobruk. Saudi Arabia also was boosting exports. (AP)
