Brent, US crude slip further on rumors Gaddafi shot

NEW YORK Thu Feb 24, 2011 8:44pm GMT

NEW YORK Feb 24 (Reuters) - Brent and U.S. crude oil futures fell sharply in post-settlement trading on Thursday in a sell-off sparked by rumors that Libyan leader Muammar Gaddafi had been shot.

In London, ICE Brent crude for April delivery LCOJ1 dropped to a post-settlement low of $109.60 after having rallied early to $119.79, the highest since August 2008. It settled earlier at $111.36, up 11 cents.

On the New York Mercantile Exchange, April crude CLJ1 slid further to $95.64, down $2.46. It had settled earlier at $97.28, down 82 cents, after touching $103.41, the highest since September 2008. (Reporting by Gene Ramos)