Oil prices fell sharply this evening after an apparently unfounded television report about a possible announcement from Egypt set off more speculation that President Hosni Mubarak could be stepping down.
There were no reports from other media outlets suggesting any imminent news from Egypt, and the country's prime minister said that it was unlikely the president would hand presidential powers to his newly appointed deputy, Al Arabiya television reported.
In London, Brent fell below the $100 a barrel level at one point as US crude retreated below $90. Earlier, oil prices rose despite a mixed January jobs report from the US that showed employment rising by far less than expected in January, but also showed the unemployment rate falling to its lowest level since April 2009.
Brent fell $1.73 to $100.03, while US crude fell $1.50 to $89.04 a barrel, having fallen as low as $88.45.
