Oil slides as IEA predicts surplus, Libya disruption concerns fade

TOKYO — Oil prices dropped on Wednesday as the International Energy Agency’s (IEA) forecast of a market surplus in the first half of this year was enough to cancel out concerns about military disruptions that have slashed Libya’s crude output. Brent crude was down 30 cents, or 0.5%, at $64.29 a barrel at 0731 GMT, after falling 0.3% on Tuesday. U.S. oil fell 33 cents, or 0.6%, to $58.05 a barrel, having declined 0.3% the day before. The head of the IEA,...