03.03.2011 - Market turmoil as IEA warns 'age of cheapoil is over'
From Independent: Growing fears of an enduring oil crisis prompted huge volatility on investment markets yesterday with shares in the world's biggest oil producer, Saudi Arabia, slumping to a 22-month low as a top energy official warned that the "age of cheap oil is over". Concerns about the turmoil in Libya triggered sharp sell-offs in stock markets across the Gulf, with shares in Kuwait and Dubai sliding to six-year lows. Oil prices also remained volatile throughout yesterday, with Brent crude futures for April delivery breaching the $117 (72) per barrel mark in late afternoon trading...........................................Full Article: Source
Print