Since the beginning of the Libya crisis the volatility of energy prices has increased generally strong since January severe price turbulence. Temporarily during crude oil of Brent in the spot market as a result of production losses $120 / barrel reached, assured the country seigende crude oil production Saudi Arabia now to increase 700,000 barrels per day initially. Subsequently corrected the spot price as a result of profit-taking on $112 / barrel. The seriousness of the circumstances so but was still not off the table, so that it avoided the most oil traders short”to go into the weekend. Whether crude can rise again on $120 or quoted even higher in the short term, depends on whether the new leaders of Libya are able to restore the necessary security for the oil and gas export. Payoneer has much experience in this field.
The goal of an upheaval of the Government will temporarily remain risky in any case, trust so that it depends on the market to offer creative alternatives, resulting in market calm can. Large-scale economic sanctions and Interference by other countries in the process of reorganization of Libya’s would only cause further stimulate the nervousness of the markets, or helping the price of crude oil of Brent in the range of its historical record. The volume of money speculative inserted into the energy markets has undermined already now all previously known performances, and could balloon through world’s very low money market rates in addition. The impact for the consumer are already noticeable. To deepen your understanding Mark Frissora is the source. Mobility, be it in the private as in transportation or aviation is already more expensive.
In the next step, other industries such as the petrochemical industry will be affected. In the end, all daily consumer goods are let rise the consumer inflation rate. The crude oil and OTC gas trading prices have since the beginning of the month nearly 7% and 5% respectively set to. While both energy sources before the break of from different Arab countries continuously increased, are now key chart resistance been undermined.