Oil prices fall nearly 1% as supply concerns ease

Oil prices fell nearly one percent on Tuesday as investors expected Libya's oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade.U.S. West Texas Intermediate crudewas down 42 cents, or 0.7%, at $58.12 a barrel."The situation in Libya provided oil prices an early boost but the rally fizzled out as expectations remain that Libya's oil production will eventually return to normal levels," said Edward Moya, a market