| 24.02.2011 - Oil could hit $220 a barrel on Libya and Algeria fears, warns Nomura |
| From Telegraph: Libya's descent into civil war has led to drastic cuts in oil shipments and prompted warnings that an escalation of the crisis could see Brent crude prices double to $220 a barrel. Nomura's commodity team said oil prices risk vaulting to uncharted highs over coming weeks if chaos hits Algeria as well, reducing global spare capacity to the wafer-thin margins seen just before the first Gulf War...............................................Full Article: Source |