Oil prices climbed further due to conflict in Libya, disrupting oil production. As such, people are selling their stocks now. There is also a growing perception among traders that the conflict in Libya might not end any time soon. Traders are Worried about the political stability of many Middle Eastern States, which are among the largest oil producers.
Prediction: The price of oil will still continue to rise unless the civil unrest in Libya is settled.
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ReplyDeleteBut wont the government intervene to curb the rise in price since if the price keeps rising people would not be able to afford it?
ReplyDeletethe price will not continue to rise. I think there will be some intervention by the US, if not the government. think OPEC will do something
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