"With Hosni Mubarak gone, overthrown by a display of people power, autocratic leaders across the Mena region are shaking in their boots. Little wonder. The region provides more than 35 per cent of the world's oil, which has already breached US$100 a barrel.
The question is: what's next in store for oil prices? As was previously the case during the two Gulf wars, the answer depends on politics. The uncertain political scenario has thrown fundamental analysis of supply and demand out of the window.
So far, the prices have not been pushed up by actual supply disruptions. Oil peaked even before the news that some foreign oil companies operating in Libya will cut production"
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