August 24, 2011

Tug Of War Continues in Oil Markets

Jon Hurdle, AOL Energy


bearr

Fresh hopes for a resumption in Libyan oil supplies may drive world crude oil prices lower in coming months but that won't begin to happen until the country's leader Muammar Gadaffi is finally driven from power, analysts said.

Prices for the US benchmark West Texas Intermediate crude oil contract edged higher Tuesday morning after the reappearance of Gadaffi's son Seif El-Islam before western journalists--despite rebel claims that the dictator's heir apparent had been captured--indicating that rebels still did not control the capital Tripoli. . .

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TAGGED: Libya, foreign oil, oil prices, global oil market, AOL

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