ISIS Advance Leads to Control Over Libyan Oil Fields

Posted on Posted in Commodity Markets

Lesson to be learned: The enemy of my enemy might also be my enemy.

It appears the NATO supported uprising  and civil war for regime change three years ago has backfired. The place is a hornets’ nest of ISIS militants and Libya’s oil fields are ceding to their control, thus providing income to sustain their terrorist-military operations. At the very least, this source of energy gets taken out of the legitimate supply chain and moves to the black market. A worst case scenario is if the black market cannot be choked off and/or ISIS destroyd, then production infrastructure for these fields will be targeted for destruction. Either way, I think this is shaping into another leg of support for oil price stability. Any opinions on this one?

 

 

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