Oil Slips After Surge on Libyan Outages and Middle East Risk

OIL PRICE - LONDON. Oil prices slipped slightly on Tuesday after rebounding more than 7% over the previous three sessions on supply concerns prompted by fears of widening Middle East conflict and potential shutdown of Libyan oil fields.

Brent crude futures were down 30 cents, or 0.4%, at $81.13 a barrel by 0819 GMT. U.S. West Texas Intermediate crude futures dropped 40 cents, or 0.5%, to $77.02.