Crude-oil futures fell in Asian trading hours Tuesday as markets cooled off after Monday’s surge following supply outages in Libya, and ahead of the U.S. Federal Reserve meeting this week. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at $98.44 a barrel at 0420 GMT, down 24 cents in the Globex electronic session. December Brent crude on London’s ICE Futures exchange declined 45 cents to $109.16 a barrel. Brent crude had snapped a three-day losing streak to settle 2.5% higher in overnight floor trade on reports Libya’s crude-oil production has dropped further on labor unrest, but it resumed its decline Tuesday morning. The Brent-WTI spread is at $10.74 a barrel. “The Libya issue has been the main price driver, but the current fall has slightly offset yesterday’s surge,” Newedge Japan commodities sales manager Yusuke Seta said by phone. Political instability in the […]