The recent news from Libya is that the rebels killed Qaddafi after they had captured him today – October 20th.
As reported by Bloomberg, the Libyan rebels managed to capture Qaddafi in his hometown of Sirte.
This news is likely to further bring down the crude oil prices, even though the Libyan war was already over and Libya’s oil production has started to rise. This news might bring some additional stability to this region.
According to the recent OPEC monthly report Libya’s oil production was still very low at 96 thousand bbl/d compared with an average of nearly 1.6 million bbl/d back in 2010, but it’s a sharp higher than in August.
Currently, crude oil prices are traded with slight changes:
The Nymex crude oil price, short term futures (November 2011 delivery) is traded at 81.44 USD / barrel, a 0.03 USD/b increase or 0.03%, as of 13:59*.
The Dated Brent oil price, short term futures (November 2011 delivery) is traded at 109.53 USD / barrel, a 0.12 USD/b decrease or 0.11%, as of 14:11*.
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