Oil Prices Slip after Osama Bin Laden Death

Oil prices went down on news of Osama bin Laden's death after fluctuating wildly the day after Obama announced the news. Also, the prices of gold, silver, and the yen went down while stocks rose. It seems that investors believe that the death of the most wanted man in the U.S. has eased worries over terrorism.
While the death of Osama bin Laden was a great victory both for the U.S. and for the world, it doesn't seem as if people are really that much safer without him, considering that he lived in a compound with limited interaction with the outside world. There was no phone or internet access to the $1 million mansion he lived in.
Osama bin Laden supporters and sympathizers have threatened retaliation on news of his death. The Pakistan Taliban has made threats along with other members of al Qaeda.
Ultimately, oil prices for light, sweet crude delivered in June ended the day at $113.52, which is down 0.4% or about 41 cents. This wasn't a huge drop, and it likely doesn't signal that prices will decline sharply in the coming days.
Experts like Mike Zerembski, a senior commodity analyst at OptionsXpress, predict that the oil prices could be volatile for a while. He said, "It's a big unknown, and big unknowns spur volatile action." Just one day out, it is really too early to know exactly how this news will affect oil prices and the world.