World oil prices, affected by the chaos in Libya

As Libyans fight on the streets, the effects will be felt on our roads.
Yesterday as chaos and violence spread across Libya, BP, Shell and other oil companies evacuated their employees.
The shutdown of oil in Libya coupled with growing uncertainty in the nation raised oil prices to $93.36 a barrel Tuesday. This is near the pre-2008 recession levels for oil prices.

US oil prices are lower relative to other countries, because of heavy stockpiling. In London, prices rose over $2 for Brent North Sea crude, which closed at $107.75. Demand for oil from China also jumped because of the unstable conditions in the Middle East.

It is unknown when oil prices will drop since many Middle Eastern nations are currently experiencing anti-government protests. US oil prices should remain relatively stable for some time according to estimates.

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