Oil Trims Losses After Saudi Police Fire On Protesters

Claudia Assis
Market Watch
Thursday, March 10, 2011

SAN FRANCISCO (MarketWatch) — Crude-oil futures pared losses Thursday after reports Saudi police opened fire at protesters in the eastern city of Qatif. Crude for April delivery /quotes/comstock/21n!f:cl\j11 (CLJ11 103.14, -1.24, -1.19%) recently lost $1.10, or 1%, to trade at $103.38 but traded slightly over $104 a barrel after the Associated Press reported the clash. Witnesses reported gunfire and stun grenades at several hundred protesters. Saudi Arabia’s is the world’s No. 1 oil exporter and No. 2 producer after Russia.