Libya’s Fragile Peace Is A Major Oil Market Risk

The economic pain for many countries being caused by still-high crude oil (and gas) prices may be exacerbated by another extensive series of blockades of key oil facilities in Libya. This follows the very recent failed attempt by Fathi Bashagha – appointed prime minister of the ‘alternative government’ in the east of the country three months ago – to take over power in Tripoli. Bashagha, and the Nawasi Brigade militia who accompanied him, were eventually driven out of the city by various other of many factions fighting there.…