Home > Main > Oil prices to fall on the recognition of Libyan rebel government

Oil prices to fall on the recognition of Libyan rebel government

June 13, 2011

Oil price fell today, but they could fall even more tomorrow. Germany has recognized the rebels in Libya as being the official government.

The speculative premium in oil is very high right now, and part of this premium is due to the Libyan revolution.

Oil could be at $85 in just a few days.  In a few weeks more, it could be at $70.

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  1. Dfurlano
    June 13, 2011 at 9:30 pm

    didn’t the price drop have more to do with the Saudi’s pumping more oil?

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