Energy OverView August 5, 2013

Crude oil fell back on Friday, taking a hit from the mediocre jobs report. There was late word, Friday, as well, that Libyan oil production would rebound on progress being made with striking workers. This morning, Libya’s oil minister has confirmed the rebound, saying that output will be back up to 800k within days. Prices promptly fell a $1.00 per barrel on the news. This shows that, despite the shale boom and surge in US oil