The rebels were united against Gaddafi. Now that he is gone I wouldn't be surprised if they started fighting each other. Libya wasnt what caused oil to go up and this will not bring the price of oil down. You can take that to the bank.
Great call on WTI...but I was referring to Brent. I have no ego in this; I am wrong constantly and used to it. But today seems to have worked out reasonably well. I'm a little nervous about those journalists gathered up in the Rixos Hotel but fingers crossed this will have a happy ending. As to WTI's price movement, it was expected that there would be a QE3 speculation run up this week ahead of Jackson Hole, which was why I specified Brent in my post (though admittedly just said "oil" in the thread title). I was long the market going into the weekend and did not take anything off today, still hoping for more.