US Crude Falls to $112.93 On Bin Laden Death

2 May 2011 (Last Updated May 2nd, 2011 18:30)

US crude dipped to $112.93 a barrel following the death of al-Qaeda leader Osama bin Laden. US crude fell by 59¢ to stand at $112.93 a barrel, while Brent crude for June shed 53¢ to $124.59 a barrel, reports Reuters. The fall in oil prices may be attributed to the re

US crude dipped to $112.93 a barrel following the death of al-Qaeda leader Osama bin Laden.

US crude fell by 59¢ to stand at $112.93 a barrel, while Brent crude for June shed 53¢ to $124.59 a barrel, reports Reuters.

The fall in oil prices may be attributed to the rebound of the weak dollar and the impact of bin Laden’s death on the market.

Analysts warned that the positive impact is likely to be short-lived and fear that bin Laden’s death could provoke revenge attacks by al-Qaeda.