SKIP TO MAIN CONTENT

Markets, oil companies nervously watch Libya

Governments and companies are scrambling to evacuate thousands of their nationals from Libya as the oil-rich north African nation faces civil war.

libya_protest_110220_B_aap_1124271743

1 min read

Published

Updated

Source: AAP


Skip to article content

EU countries are sending planes to Tripoli to get their people out and major companies like British energy giant BP are also working on exit plans.

Australia's one of many countries warning against travelling to Libya amid escalating protests against Muammar Gaddafi''S 40-year rule and a violent crackdown that's claimed more than 200 lives.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Oil prices soared to two-year highs overnight as the deadly violence in Libya fuelled concerns over spreading unrest in Arab producer states.

Officials say oil consuming nations have emergency reserves they can use to stabilise markets .. in case the violence in Libya and the wider Middle East escalates and cuts production.

But international executives and analysts meeting in London are nervously watching developments in the oil-rich region worried about the sharp shock political unrest is giving to crude oil prices.


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world