Oil prices originally moved higher on the news but fears of the coronavirus slowing down economic growth have countered that at least temporarily. Nymex natural gas prices have plunged below $2/MMBtu, a level not seen in years. That means that spending on offshore wind could exceed that of offshore oil and gas in the next few years. Oil Prices Trade Close to $70pb, Thanks to Rising Geopolitical Tensions4. US, Iran Hostilities: Global Crude Oil Prices Trend Upwards7.

Source: Libya Today January 22, 2020 05:26 UTC