Oil Prices Tank On Imminent Gaddafi Speech, And Promise By The Saudis To Keep On Pumping

Oil prices are sharply abating after yesterday’s remarkable run.

There seem to be two causes: One is that Libyan leader Gaddafi is due to speak imminently, and according to reports will introduce reforms (though probably too late for that).

Meanwhile, the Saudis say they have spare capacity and will fill any supply shortage that may arise if Libya goes offline.

chart

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

moneygame-us oil