Oil is off its high this morning, but it is still trading up $5.00 to $94.67. Libya is Africa’s largest producer of light sweet crude, and production is already being
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shut down due to the escalating violence. The post right below this one is a detailed look at Libya’s energy industry by Stratfor. Most of Libya’s production goes to Europe, and the Borsa Italia didn’t open today due to Italy’s close business ties with Libya.
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