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A political standoff in Libya risks once more paralyzing the north African country's lucrative oil sector — but the frequency of its power tussles and crude disruptions have called long-term oil price support into question.
In 1935 retired Marine General and two-time Medal of Honor winner Smedley Butler published a 55-page pamphlet that caused a sensation. The pamphlet, entitled “War is a Racket,” was reprinted in Reader’s Digest, assuring a mass circulation at the time. Butler summarized his argument this way:
Oil prices extended declines during Asia trading hours, after a report that Libya's oil production was set to be restored pressured prices overnight.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
On a lazy summer weekend a year ago, Russia was jolted by the stunning news of an armed uprising. The swaggering chief of a Kremlin-sponsored mercenary army seized a military headquarters in the south and began marching toward Moscow to oust the Defense Ministry’s leaders, accusing them of starving his force of ammunition in Ukraine.