The impact of the Libyan War, oil prices skyrocketed

Bersitegangnya still some areas in the Middle East will make the fears of scarcity of oil supply. Impact of crude oil the United States (U.S.) surged USD112 per barrel on Friday.

Barclays Capital has said Libya's oil exports may be offline for several months. Rumored battle will continue berlangusung therefore many traders will speculate with the predictions.

"The market is being forced to consider the possibility of loss due to reduced supplies from Libya for the rest of this year and next," said oil analyst Jim Ritterbusch Friday as reported by AP, on Saturday (09/04/2011).

The increase was also triggered fears of violence in Nigeria ahead of national elections this weekend because it can cause supply disruptions. Then the massive power outages in Venezuela has affected several refineries. Both countries provide a combined 2 million barrels of oil per day to the U.S..

In addition, the weakening of the dollar against other major currencies allegedly contributing to the rise in oil prices, the article of oil is traded in dollars and tend to rise when the dollar falls.

If the price rises could continue to damage the U.S. economy. "People pay more attention to fuel oil compared to telephone service, cable TV or other services," said chief oil analyst Tom Kloza OPIS.

The index benchmark crude West Texas Intermediate for delivery in May rose 2.3 percent to USD112, 79 per barrel on the New York Mercantile Exchange in the last 30 months, the highest crude oil prices almost every day this week.

If crude prices continue to rise, experts predict the price will be $ 4 per gallon gasoline in the United States this summer. Oil prices have Jumped from $ 3, 2007 to $ 3, 74 per gallon since the beginning of the year. This rapid increase in force Oil Information Service to increase retail gasoline price forecast in the range of USD3, 75 up to $ 4 per gallon this year.

National average for a gallon of gas now USD88, 3 cents higher than the same period last year. According to OPIS, AAA, Wright Express and the price of oil in California, Alaska and Hawaii already above $ 4 per gallon. Likewise, oil prices in Connecticut, Washington, DC, Illinois and New York almost at the same range.

In other Nymex trading for the contract May heating oil rose $ 11, 37 cents to $ 3, 3197 per gallon and gasoline come rising up $ 7, 42 cents to $ 3, 2607 per gallon. Natural gas fell $ 1, 6 cents to $ 4, 041 per 1,000 cubic feet (ade)