Financial Industry Under Pressure: Equity markets stirred-up as 'peak oil' fears grow amid Libya crisis

Oil prices spiked near the US$120 mark this morning amid the escalating crisis across North Africa and the Arabian Peninsula.

While Libya's Muammar Gaddafi 'bunkered down' and the country's civilian uprising stepped up a gear, the oil prices have soared, and should the 'unrest contagion' continue to spread throughout the oil producing region, crude prices are expected to keep pushing higher.

Setting aside the political and humanitarian issues, the escalating crisis poses an intriguing dichotomy for investors. On one hand the uncertainty is something of a dark cloud hanging over what had looked like a bright, albeit early, recovery for equity markets. Also the threat of rising costs - from disrupted supply routes, and higher fuel costs - compound lingering fears over inflation.

For more: Equity markets stirred-up as 'peak oil' fears grow amid Libya crisis - Proactiveinvestors (UK)