World Awash in Oil Shields Markets From 2008 Price Shock

Fighting across Iraq, Libya, Ukraine and Gaza, and an accelerating economy, should mean higher oil prices.

Brent Erases Iraq Rally With Price Below When Mosul Taken

Brent crude fell the most in more than two months, reversing a rally that started when Islamist militants seized the northern Iraqi city of Mosul almost a month ago. West Texas Intermediate also declined.

Oil demand to rise as global economy recovers, energy watchdog says

Global oil demand will increase more quickly this year as economic growth accelerates, outstripping supply even as shale oil production in the United States reaches record highs, the west's energy watchdog said on Tuesday.

Libya oil crisis exacerbated by push for autonomy

TRIPOLI: Libya is suffering a profound economic and political crisis, running out of cash because autonomy-seekers are blocking key oil exports, while a movement is afoot in congress to unseat the fragile government.

WTI Oil Rises From 5-Month Low as Refinery Use Climbing

West Texas Intermediate crude rebounded from a five-month low before a report projected to show that U.S. refineries bolstered operations as they ended seasonal maintenance.

IEA: Many Months to Restore Libya's Oil Output

An expert at the International Energy Agency says it may be "many months" before Libya's damaged oil industry can resume full production. The head of IEA's Oil Industry and Markets Division, David Fyfe, said Thursday there are "many logistical, operational and security related challenges" to overcome in Libya.

Energy security and Libya revolution

Political instability in Libya has been worsening after the UN Security Council Resolution 1973 was applied. The members of the UN Security Council and NATO have been divided into diverging opinion in interpreting the resolution.

In principle, this will be a bad precedent to the other destabilizing Middle East countries. Despite political unrest, both economic and social unrest in Libya drive an unexpected impact, especially in the surge of the oil prices.