ID :
169655
Mon, 03/21/2011 - 11:17
Auther :
Shortlink :
http://m.oananews.org//node/169655
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Oil price to surge 1-2 THB per litre due to Libyan crisis: expert
BANGKOK, March 21 (TNA) -- Attacks on Libyan security forces over the weekend by world major powers led by the United States, are expected to hit oil prices worldwide, according to a Thai energy expert.
Manoon Siriwan made the forecast in Bangkok Monday morning, saying there is likely to be a short term increase of 1-2 baht per litre in Thailand, but that the trend may reverse in the long run if the situation improves.
He noted, however, the large demand for oil in Japan currently will become another factor pushing up prices, as the country will require mass imports of diesel to restore its economy.
At this time, Libya accounts for about 2 per cent of the global supply of fine crude oil, surpassing Saudi Arabia, and largely targets the European market. This means that any prolonged crisis will send London’s Brent crude up by 10 US dollars a barrel. (TNA)
Manoon Siriwan made the forecast in Bangkok Monday morning, saying there is likely to be a short term increase of 1-2 baht per litre in Thailand, but that the trend may reverse in the long run if the situation improves.
He noted, however, the large demand for oil in Japan currently will become another factor pushing up prices, as the country will require mass imports of diesel to restore its economy.
At this time, Libya accounts for about 2 per cent of the global supply of fine crude oil, surpassing Saudi Arabia, and largely targets the European market. This means that any prolonged crisis will send London’s Brent crude up by 10 US dollars a barrel. (TNA)
