Light, sweet crude oil prices fell to their lowest level in more than a week on the New York market Feb. 7 on what analysts called concerns about world economics that could slow oil demand. The Bank of England warned of a world economic slowdown. Meanwhile, a White House economic adviser told Fox Business Network that US-China negotiations are not close to reaching a trade agreement. China is a major oil consumer. Several analysts have recently noted light, sweet crude oil is in a $50-55/bbl range, which some of them suggest could continue until a resolution in US-China trade negotiations. In Libya, a Libyan general ... (full story)