Oil price falls near $101 as supplies rise (AP)

2012-01-11 10:56:11

by Yahoo! News: Business - Energy & Oil Industry

Black smoke is seen from Homs refinery (in the background) after a pipeline carrying oil from the east of the country to the refinery was blown up, in this December 8, 2011 file handout photograph released by Syria's national news agency SANA. Long queues to get heating oil and petrol, along with bread shortages, even in areas of the country that have not witnessed months of protests are adding to the discomfort and misery, Syrians say. Picture taken December 8, 2011. To match Feature SYRIA-ECONOMY REUTERS/SANA/Handout/ Files(SYRIA - Tags: POLITICS CIVIL UNREST ENERGY SOCIETY) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTSAP - Oil prices dropped Wednesday, as weak U.S. energy demand pushed petroleum supplies sharply higher.