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IEA concerned about oil prices, rules out strategic stock release

Posted on 11 September 2013

The International Energy Agency is concerned about current high oil prices, but does not see the need for any release of strategic stockpiles, as the market is well supplied despite supply outages in Libya, the group’s head said on Tuesday.
Supply outages from Libya and concerns the escalating situation in Syria could spill into other Middle East countries pushed up prices for international benchmark Brent to a six-month peak above $117 per barrel late last month. But Brent dropped to a one-week low below $113 on Tuesday………………………………………..Full Article: Source


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