Updated on
Summary Oil prices fell more than 3 percent on Monday after US forces killed Osama bin Laden.
Oil prices eased off 2½-year highs to below $113 a barrel. Benchmark crude for June delivery was down $1.40 at $112.53 a barrel in electronic trading on the New York Mercantile Exchange.Early futures market volume was depressed by a public holiday in Britain and several other countries, which may have added to price volatility, oil brokers said. The oil market focused on whether the news would help unwind the risk premium attached to prices because of war in Libya and unrest in the Middle East and North Africa.The euro was 0.2 percent higher at $1.4827 while the dollar was 0.4 percent firmer at 81.55 yen.
