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Commodities Briefing - Categorized | Oil, Price Watch more

Instability in Libya continues to drag down crude oil prices

Posted on 25 April 2014

The price for the U.S. crude oil benchmark has moved closer to $102 per barrel in trading in part because of renewed concerns over Libya, once one of North Africa’s top exporters. On concerns Libya has not yet broken rebels’ grip on oil export terminals, West Texas Intermediate was trading at $101.40 per barrel, while the price for Brent moved at $109.10.
Though U.S. crude oil levels may provide some relief to market worries, the protracted stalemate over Libyan crude, coupled with continued unrest in Ukraine, could push oil prices higher through this summer………………………………………..Full Article: Source


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