Oil prices slipped today, extending a plunge of more than four percent the previous day and hovering at their lowest since December. Oil Prices are declining on expectations that a political dispute halting Libyan exports could be resolved and concerns over sluggish global demand.

Brent crude futures for November fell one percent, to 73 dollars per barrel, after the previous session’s fall of 4.9 percent. U.S. West Texas Intermediate crude futures for October were down over 1.1 percent at 69.54 dollar per barrel, after dropping 4.4 percent yesterday.