By musiclover - Mon Jan 31, 6:14 pm

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Edited bymusiclover

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Oil prices retreated Monday shortly after opening in New York, while market concerns arising from the revolt in Egypt subsided a bit.

To 2:15 pm GMT on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for March delivery traded at 88.95 dollars, down 39 cents from Friday.

The tension on the market subsided when a little earlier in the session Brent crude traded in London had come to graze the 100 dollars to 99.97 dollars, before retreating. In New York, the barrel is mounted close to 91 dollars in electronic trading.

Investors tried to assess the market risks arising from the uprising in Egypt, where an unprecedented popular revolt is directed against the regime.

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