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Commodities Briefing - Categorized | Oil, Price Watch more

Renewed Violence In Iraq and Libya Could Send Oil Prices Up

Posted on 07 August 2014

Violence has returned to key oil-producing countries Iraq and Libya after a brief period of calm. Shelling and firefights between militias over the control of a key airport in Tripoli have hurled Libya back into a state of emergency, punctuating several weeks of escalating violence in the troubled North African country.
In mid-July, the Libyan government appeared to gain more control over the country’s restive provinces when it secured a deal with rebels in the east, which led to the reopening of the major ports of Es Sider and Ras Lanuf. The accord led to a drop in oil prices as investors anticipated an immediate influx of several hundred thousand barrels of oil per day to global markets………………………………………..Full Article: Source


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