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Reasons why Oil is headed back above $110 a barrel
While the world breathed a collective sigh of relief at the end Muammar Gaddafi’s regime, oil prices did not benefit as was widely expected by analysts. Oil prices have climbed from their lows of $75 a barrel in early October to over $95 a barrel at the close of October. While Gaddafi’s death ended the civil war, the oil fields remain another story. There is political chaos in the African country and her infrastructure has been severely damaged during the NATO airstrikes. There are myriad of tribes fighting to get a piece of the pie in Libya and it remains to be seen if their new democratically elected government ... (full story)