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CNBC: Fresh violence in Libya could provide new shock to oil markets amid tightening global supply
* Libya stands on the verge of a civil war.
* Tripoli could be sacked by rebel forces loyal to renegade General Khalifa Hafta.
* From an energy perspective, 300,000 to 400,000 million barrels of oil supply are at risk.
DUBAI — A resurgence in fighting around the Libyan capital of Tripoli this week has driven U.S. forces to pull out of the country and is providing a new upside risk to global oil prices, underscoring the OPEC producer’s importance to markets and the fragility of its supply.
Rebel forces loyal to renegade General Khalifa Haftar, who effectively controls the country’s breakaway east, launched a surprise offensive against the home of Libya’s UN-recognized government last week in a move that risks plunging the country back into civil war.
“The Libyan conflict coming back onto the front of the mind of the marketplace is actually very significant right now,” Dave Ernsberger, global head of energy at S&P Global Platts, told CNBC in Dubai on Monday.
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Update: Oil Markets On Edge As Military Clash Looms In Libya (OilPrice.com)
WNU Editor: The Libyan civil war is already impacting oil prices .... Global Oil Prices Hit Fresh 2019 Highs as Libya Fighting Adds to Supply Concerns (The Street).
