This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-12784532
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Oil rises as UN passes no-fly zone resolution on Libya | Oil rises as UN passes no-fly zone resolution on Libya |
| (about 1 hour later) | |
| Oil prices have risen sharply after the United Nations authorised a no-fly zone over Libya. | Oil prices have risen sharply after the United Nations authorised a no-fly zone over Libya. |
| Brent crude in London earlier rose above $116 a barrel . US light, sweet crude gained $1.05 at $102.47 a barrel. | |
| Fighting between forces loyal to Libyan leader Muammar Gaddafi and rebels has taken place during the past few weeks. | Fighting between forces loyal to Libyan leader Muammar Gaddafi and rebels has taken place during the past few weeks. |
| The battles come after a series of popular uprisings across the Arab world, which also pushed up oil prices. | The battles come after a series of popular uprisings across the Arab world, which also pushed up oil prices. |
| Libyan oil production - which goes predominantly to the European market, for which Brent is the leading price benchmark - is near zero. | Libyan oil production - which goes predominantly to the European market, for which Brent is the leading price benchmark - is near zero. |
| Col Gaddafi's forces have recently retaken several towns seized by rebels in an uprising. | Col Gaddafi's forces have recently retaken several towns seized by rebels in an uprising. |
| 'Roiling uncertainty' | 'Roiling uncertainty' |
| Financial markets have been jittery all this week as events in the Middle East and Japan threatened to take a turn for the worse. | Financial markets have been jittery all this week as events in the Middle East and Japan threatened to take a turn for the worse. |
| "The intensity of fighting and the targeting of oil facilities and installations has been a shock to many observers," energy consultancy Cameron Hanover said in a report. | "The intensity of fighting and the targeting of oil facilities and installations has been a shock to many observers," energy consultancy Cameron Hanover said in a report. |
| "This decision by the UN would seem to extend the fighting for a period of time. The oil market is confused and in a state of roiling uncertainty." | "This decision by the UN would seem to extend the fighting for a period of time. The oil market is confused and in a state of roiling uncertainty." |
| In Bahrain, a clampdown on protesters earlier this week raised concern that unrest could spread to neighbouring Saudi Arabia, the world's biggest crude producer. | In Bahrain, a clampdown on protesters earlier this week raised concern that unrest could spread to neighbouring Saudi Arabia, the world's biggest crude producer. |
| Protests by a few hundred people in Saudi Arabia on Wednesday were put down by security forces. | Protests by a few hundred people in Saudi Arabia on Wednesday were put down by security forces. |
| The continuing nuclear crisis in Japan also continued to prey on the minds of investors, with concerns that the country is set to increase energy imports. | The continuing nuclear crisis in Japan also continued to prey on the minds of investors, with concerns that the country is set to increase energy imports. |
| Japan's nuclear capacity - which accounts for nearly 30% of electricity generation - has been crippled following a devastating earthquake and tsunami. | Japan's nuclear capacity - which accounts for nearly 30% of electricity generation - has been crippled following a devastating earthquake and tsunami. |
| Eleven of its 54 nuclear reactors are not operating. | Eleven of its 54 nuclear reactors are not operating. |