Reported about 2 months ago
Oil prices are increasing due to Libya's government halting exports and escalating tensions in the Middle East. Kpler's analyst, Matt Smith, highlights that while seasonal demand typically slows down, OPEC's actions and Libya's production shutdown are creating immediate impacts on the market. As oil prices rise, consumers may soon feel this at the gas pump, countering the recent decline in prices witnessed over the summer.
Source: YAHOO