The opening day of the week saw equities take another tumble, as Libyan protests continue to dominate the news. Yesterday, Libyan leader Moammar Gaddafi?s forces fought against anti-government rebels outside of a major oil port in the country. Due to the increasingly violent and widespread protests in the major oil-producing nation, traders have prepared for the worst case scenario for oil reserves. The rich oil supply once flowing out of Libya has been brought to an abrupt halt, and no one is sure how long that situation will last. Oil prices continue to surge on Libyan protests, as each day brings new post-recession highs for crude.
As the price per barrel of crude makes its way to $110 per barrel and beyond, costs at the pumps have been surging as well. Since the protests began in the Middle East, ?pump prices have jumped an average of 39 cents per gallon?
Complete Story »
Asia Argento Charisma Carpenter Hilarie Burton Kelly Carlson Sara Foster
No comments:
Post a Comment