Libya Attack Near 911 Anniversary Puts Energy Markets on Edge (USO) (OIL) (UCO) (BNO)

Investors remain on edge as they await potential geopolitical fallout following news that the U.S. ambassador to Libya and three staff members were killed by militants in a rocket attack. The violence is thought to have been linked to protests against a little-known film which Muslims say denigrates Prophet Mohammad. The fact that the attacks took place so close to the Sept. 11th anniversary adds insult to injury, and heightens tensions in the energy market. No one has claimed responsibility for the attacks.

In other energy related news, United States Oil (NYSE: USO) moved lower following an EIA reported on crude oil inventory that showed stocks rose 1.99 million barrels versus an expected drop of 2.9 million barrels. Yesterday API data showed that crude stocks rose 221 thousand barrels, causing many investors to pause ahead of the EIA report.

WTI futures traded near recent highs at $97.50 per barrel and Brent traded at $115.30. United States Oil ETF (NYSE: USO) and iPath S&P GSCI Crude Oil TR Index ETN (NTSE: OIL) are higher by 0.40 percent. United States Brent Oil ETF (NYSE: BNO) is higher by 0.55 percent.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Iran’s president calls for end to war with US
• FOMC minutes from July 28-29th meeting
• Lowe's (LOW) PT Lowered to $275 at Guggenheim