All Of The Oil Supply Outages Around The World

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		Home Tech Finance Markets Politics Strategy Entertainment Advertising Retail Sports Life Thursday, Aug 29, 2013 All Of The Oil Supply Outages Around The World Brent crude oil prices have been surging in recent weeks. Today, they are right around $116 per barrel, down around 0.5%. Market pundits have tied the move to Syria, where it appears the threat of a conflict breaking out into the broader Middle East is receding. At least for now. UBS's Julius Walker reiterates that it's the regional spillover that counts for oil prices, not what's actually happening in Syria. "The issue is not curtailed Syrian oil production – its crude output has already shriveled to 40 kb/d from pre-crisis capacity of 350 kb/d," said Walker. "The fear is that a strike on Syria could lead to it retaliating, thus pulling in neighbouring countries. Even more worryingly, Assad supporters such as Iran or Russia could be prompted to intervene, risking a wider regional conflict." "Oil prices had already risen in past weeks, as worker strikes have shut-in much of Libya’s production, bombings in Iraq become more frequent again, and the situation remains unstable in Egypt," continued Walked. "We estimate that, including Iran, some 2.5 mb/d of oil production is currently shut-in globally. The Libyan situation, in particular, looks likely to last for longer than initially expected." Walker charted where we're seeing oil supply disruptions around the world.  As you can see by the light blue bars, Libya has experienced the biggest increases in disruptions in recent months. Read » Also On Markets Today: GOLDMAN: Here Are 24 Stocks That Hedge Funds Are Shorting Like Crazy Brazilian Currency Surges After Central Bank Launches Intervention Program To Stop The Bleeding Advertisement CHART OF THE DAY: China's GDP Numbers Look Almost Too 'Smooth' To Be True CHART OF THE DAY: The Chinese Premier's 2 Favorite Economic Indicators Look Super Depressing CHART OF THE DAY: Here's What It Looks Like When The Bond Market Goes Into A Coma Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Markets RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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