Prices of crude oil increase in Asian market as a consequence of civil war in Libya. The oil prices were marked at US$86 a barrel on Tuesday, with the benchmark for oil to be delivered in October increased by $1.61 to $86.03 at the New York Mercantile Exchange.

In London, the crude oil to be delivered in October increased to 46%, amounting to $108.82 on the ICE Futures exchange. With the increase in the price, the investors were anticipating a speedy recovery in the production of oil in Libya.

Since February, the civil war is on, resulting in the decline in the crude oil production to 60,000 barrels a day from 1.5 million, thereby, damaging the country’s oil infrastructure. Earlier, the country use to export 1.3 million crude oil,
85% of the oil production to Europe, until the revolt disturbed the country's production.

Market analysts have predicted that it will take 2 years to stabilize the oil production in Libya. Shukri Ghanem, the banished previous Libyan Oil Minister, stated that "I don't think they can resume production immediately. It might take place in three or four months but to go back to the level they used to produce, it may take two years”.