国际英语新闻：Oil falls below 86 dollars on Mubarak's resignation

NEW YORK, Feb. 11 (Xinhua) -- Crude oil price fell on Friday below 86 U.S. dollars a barrel as Egyptian President Hosni Mubarak 's resignation eased previous concerns about oil supply disruption in the Middle East.

Although Egypt is not a main oil producer, it controls the Suez Canal, which is an important oil transport route for the Middle East. Since the outbreak of political unrest in Egypt, the investors have been worrying about the normal operation of the Suez Canal.

Egyptian Vice President Omar Suleiman said Friday on television that Mubarak had resigned, handing over power to the army. This news was translated by the investors into an end to the several- week-long unrest in Egypt, as well as stable oil supply.

Meanwhile, Mubarak's resignation sent U.S. stocks and the dollar higher, which also pressured oil price.

Light, sweet crude for March delivery dropped 1.15 dollars to 85.58 dollars a barrel on the New York Mercantile Exchange.