Oil Markets Shrug Off Russian Political Turmoil

Oil Markets Shrug Off Russian Political Turmoil
A gas pump at a petrol station in Seoul on June 27, 2011. Jo Yong-Hak/Reuters
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LONDON—Oil prices fell on Monday after a revolt by Russian mercenaries over the weekend, though the political instability did not appear to pose an immediate threat to oil supply from one of the world’s largest producers.

Brent crude futures were down 8 cents, or 0.1 percent, at $73.77 a barrel by 0900 GMT. U.S. West Texas Intermediate crude (WTI) was down 17 cents, or 0.3 percent, at $68.99. Both benchmarks gained as much as 1.3 percent in early Asian trade.