The oil price of the organization of the Petroleum Exporting Countries (OPEC) inched down to 110.37 dollars at the start of the week, the group reported Tuesday.
Advances by Libyan rebels fuelled hopes that the country's leader, Moamer Gaddafi, might be overthrown soon and that oil exports would resume quickly, analysts at JBC Energy said in Vienna, DPA reported.
OPEC's basket price eased 0.54 dollars per barrel (159 litres) on Monday.
OPEC oil lower as Libyan revels advance
The oil price of the organization of the Petroleum Exporting Countries (OPEC) inched down to 110.37 dollars at the start of the week, the group reported Tuesday.
