MarketWatch | Oil prices see quickest 50% drop from top in 8 years MarketWatch On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, -1.88% fell $1.12, or 2%, to settle at $53.61 a barrel, after an early rally on reports of a fire affecting oil-storage terminals in Libya collapsed. That's ... UPDATE 3-Libyan oil output shrinks more as oil tanks blaze Oil hits fresh five-year low, looks past Libya Libyan Militias Set Fire to Storage Tanks in Renewed Push for Oil, Foreign ... |