Oil Price Europe: Oil falls below $108 in Europe after Saudis deny pipeline explosion report

Oil prices retreated to below $108 a barrel Friday after Saudi Arabia denied an Iranian media report of a Saudi pipeline explosion.

By early afternoon in Europe, benchmark oil for April delivery was down 98 cents to $107.86 in electronic trading on the New York Mercantile Exchange. The contract rose $1.77 to $108.84 per barrel in New York on Thursday.

For more: Oil falls below $108 in Europe after Saudis deny pipeline explosion report - The Washington Post