Asia Bizz: Oil prices in the global market have touched $96.08, as the unrest situation in Libya has caused the fuel prices to soar. Asia stock markets were the worst hit, as they were shadowed by the Middle East situation and have suffered distinctive loss in their business. Experts have claimed, the horrifying situation in the Middle East shall surely affect the global economic growth.
The leaders in Egypt and Tunisia have lost their hold in their respective countries as protests on a very large scale have taken place around the Middle East, but the Muammar Gaddafi has raged a war against these protests in Libya and situation is predicted to get out of hand if not halted.
Libya is Africa’s third largest oil producer, and the country enjoys having this liberty, but the after the uprising in the country, oil importers are the sufferers. Stock figures fell by a considerable level in Asia, and it is something that will alarm most of the developing countries today.