Libya

The U.S. Justice Department said Peter Sotis, former owner of Florida-based Add Helium, is accused of smuggling rebreather equipment without an export license to the war-torn country.

Crude prices are stuck in a $50-$55 range for WTI, as news that would drive prices higher inevitably gets offset soon after by something pushing it lower.

Oil prices fell by 6% yesterday after Libya’s National Oil Corporation announced the reopening of oil ports and recommencing the production of 700,000 barrels per day.