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Unrest in the Mideast is Affecting Market Prices


Gas prices are inching up to the painful level and Libya’s unrest isn't helping. Unlike Egypt and Bahrain, Libya is a significant exporter of crude.  Tyler Simones with Northwest Quadrant Wealth Management says it’s effecting the markets: “Libya is the 18th largest exporter of crude, it’s about two percent of the daily global output. They also sit on the largest oil reserves in Africa. They are causing equity markets to sell off and also oil prices have spiked.” It's expected over the seven to ten days, the U.S. consumer is going to see rising prices.

 

 

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