According to the latest (15 March) Oil Market Report from the International Energy Agency (IEA), political unrest in the Middle East and North Africa (MENA), currently focused on Libya, has injected volatility into futures markets, with prices gyrating by an average $3/b daily. By mid-March benchmark crudes were trading $10 to $15/b above average February levels, with Brent last seen just shy of $114/b and WTI around $100/b.
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