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Oil Prices Should Fall With Gadhafi Overthrow

Associated Press | by Bree Fowler

On Sunday night, rebel forces pushed into Tripoli without meeting much resistance, hours after they overran a major military base that defended the capital. Opposition fighters captured Gadhafi’s son and one-time heir apparent, Seif al-Islam. Independent analyst Andrew Lipow said oil markets will likely respond Monday by sending prices lower in “a sign of relief that conflict has come to the end.” But Lipow said it will take time for the market to erase the hefty price increase that resulted from the suspension of Libyan oil exports since the rebellion began in February.