Oil price rises as Libyan unrest disrupts supplies

(Reuters) – Brent crude rose and U.S. oil hit a 2-1/2 year high on Tuesday as the revolt in Libya disrupted the OPEC nation’s supplies and raised concern unrest could spread to other oil producing countries in the region.

More than 8 percent of Libya’s 1.6 million barrels per day (bpd) of oil production has been shut down by the political violence, with Italian ENI and Spain’s Repsol shutting in output.

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8 Comments

  1. Muslim_Always
    February 22, 2011

    Time for the people of Dominica to put pressure on Skerrit’s Administration to tap in our Geothermal energy and stop the talking! As a people, we love to sit in corners and talk and grumble when we are displeased yet fail to take action as a nation. Our people cannot unite on issues of importance because of the tribal political disease they suffer.

    It is time for our people to recognise that this political tribalism is destroying our nation. We must be fair and operate on just principles. If a man is qualified to do a job, give the man the job and respect his political opinions, the 1st article of the constitution allows for freedom of speech, political opinion, religion etc. Stop the pull string, putting square pegs in round holes.

    Thanks.

  2. AS I SEE IT,,,,,,,,,,,
    February 22, 2011

    :arrow: :!: :mrgreen:

  3. Die Hard
    February 22, 2011

    We have Daddy Chavez to back us up. I am not afraid.

    • Looking in from outside.
      February 22, 2011

      Daddy Chavez cannot help the price,you still have to pay OPEC prices.So what good is Daddy Chavez to the common man?

    • Really Concerned
      February 22, 2011

      You really have Daddy Chavez to back you up? Really????? For some reason, I thought I read somewhere that DOMLEC prices going up. Can you call Daddy to help us with that?

      • Die Hard
        February 23, 2011

        Really concerned

        Do you listen to news? Did you not hear the minister for petro caribe? Get your facts straight.

        • Really Concerned
          February 23, 2011

          No..I didn’t listen to the news. My radio break. What did the minister for petro caribe say?

  4. mouth of the south
    February 22, 2011

    ok obama time to kick in n take control of that oil,,,, we can’t have another recession type period,,,, we just moving from one,,, china not playing fair with there currency n look they have taken over japan,,,, lets do what we have to do,,,, don’t worry what them fools will say,,,, ‘birds live for food,,, man live for wealth” lol :lol: :lol: :lol: :lol: :lol: :lol: :lol:

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