Oil Price Volatility Following Killing of Osama Bin Laden

Announcement: 11:30 p.m. EST, Sunday night, May 1, 2011

Futures, immediately during/after announcement: down 75 cents

Monday morning, futures, 6:00 a.m. EST: down $2.60

Monday morning, futures, 7:00 a.m. EST: down $1.65

Pundit, CNBC, 7:20 a.m. EST:

• Price of oil has to break below $109 for move toward significant pullback
• If oil broke to below $109, then "real chance" that oil could pullback to $101 range

Monday morning, futures, 8:00 a.m. EST: down $1.50

Opening bell, Monday, 9:30 a.m. EST: up 10 cents, to $114.03
Closing bell, Monday, 4:00 p.m. EST: down 75 cents