Energy and Utility Management Consultants

Prices Still Climbing as Political Unrest Continues

March 2011

 

Unfortunately, even despite a slight downward movement on Monday, the wholesale prices of natural gas, electricity and oil are all still at a two year high following recent climbs across all markets, most notably Brent Crude oil.
With continued unrest in Libya, and rising tensions in Algeria, which this week saw thousands of community police officers rallying in the capital, this ripple effect of political change seems to be spreading. Like Libya, Algeria is a major producer of oil and any significant disruption will have effects on the worldwide prices of oil to some extent. Although a vote of confidence has been issued by Saudi Arabia, far and away the biggest producer of oil, there are several other hugely important oil-producing countries which are more fragile and susceptible to unrest.

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