World oil markets were thrown into disarray...

World oil markets were thrown into disarray after OPEC President Rilwanu Lukman postponed a press conference at which he was expected to announce measures to give oil prices a much-needed boost. The Lagos, Nigeria, news conference by the Nigerian oil minister was rescheduled for today at 9 a.m. EST., Nigeria’s state oil company said late Tuesday, too late to help markets recoup their steep losses. On the New York Mercantile Exchange, contracts for April delivery of West Texas Intermediate, the benchmark U.S. crude oil, settled at $16.09 per 42-gallon barrel, down 40 cents from Monday.