Stocks buoyed by oil price fall on Libya hopes

LONDON (AP) — Stock markets in Europe and the U.S. were helped Monday by a drop in oil prices as Libyan rebel forces made gains against the regime of longtime leader Moammar Gadhafi.

The rebels have taken control of two key port towns and indicated they would restart crude exports within weeks. That affects markets because Libya accounts for a little under 2 percent of the world's daily production.

The rebels' advance in recent days has come in the wake of international airstrikes against Gadhafi's military forces and has encouraged investor hopes that the regime may soon fall.

That prospect was reflected in the oil markets. A barrel of crude as traded in New York was …