As the Libya turmoil progress, the UN continues to add additional sanctions on Qaddafi, including arms embargo and seizing assets of Qaddafi and his family in attempt to stop the bloodshed in Libya.
There are also reports of US armed forces being repositioned in the Middle East in preparation to assist Libya if needed.
The crude oil market doesn’t seem to respond to the recent news as there are currently declines in crude oil price:
The Nymex crude oil price, short term futures (March 2011 delivery) is traded at 97.63 USD / barrel, a 0.25 USD/b fall or a 0.26%, as of 17.14 AM*.
The Dated Brent spot crude oil is at 111.99 USD / barrel – a 0.1 USD/ barrel decrease as of 17.25 AM.*
For more on this subject: