Oil Is Getting Whacked This Morning After Qaddafi Accepts “Roadmap” To Peace

Over the weekend, leaders from around Africa visited Tripoli to try to broker some kind of peace deal.

Supposedly, Qaddafi has accepted some kind of “roadmap” for peace. Qaddafi has accepted several cease-fires since the fighting began, and the use of the word “roadmap” here is not particularly inspiring. There’s no word on how the rebels feel about whatever plan was agreed to between Qaddafi and other leaders.

Between this and the Japanese earthquake, oil is getting whacked this morning.

Granted, it’s all relative. WTI crude is down to $111, which just a few days ago was (rightfully) seen as incredibly high.

US futures, which had been flat, are starting to get a bit of a lift.