Libya and the Markets: What's Next?

(AP/WDET) Oil prices were mixed Monday as a rebellion in Libya appeared close to an end. The impending ouster of Libyan leader Moammar Gadhafi could allow the nation to resume oil exports, which have stopped during the country's six-month conflict. That could ease global supply constraints that drove fuel prices to three-year highs earlier this year. Brent crude, which is used to price many international oil varieties, dropped $1.47 to $107.15 per barrel on hopes of fewer supply constraints. Benchmark U.S. crude rose, however, by $1.58 to $83.99 as traders used a financial strategy to take profits. Retail gasoline prices dropped less than a penny to $3.569 per gallon. AAA Michigan says the average price statewide was $3.657 Monday morning. The average price in Metro Detroit was $3.679. Brian O'Connor is the Personal Finance Editor for the Detroit News. WDET's Pat Batcheller asked O'Connor about oil prices and what investors might expect after two volatile weeks on Wall Street. Click the audio link above to hear the conversation.

You can read more from Brian O'Connor here.

How much is gasoline in your market? Find out at AAA's fuel gauge web site.