AU: OIL: Crude oil prices were sold off sharply on as in
OIL: Crude oil prices were sold off sharply on Friday as the crisis in Egypt ended peacefully with President Mubarak handing power to the military, leading to a subsequent unwinding of longs in the oil market. March WTI crude dropped sharply from opening highs of $87.77 to a low of $85.10 before settling the week at $85.58. Asian markets this morning have seen some steadying with the liquid ranging $85.27-79 as the new week begins. Support today is seen at Friday's low of $85.10 and $84.04 with resistance at $86.15 and $87.12.
