LONDON (AP) — Rising oil prices weighed on stock markets Monday as the violence in Libya escalated, while a major ratings agency warned Greece may default on its debts.
Investor sentiment has in recent weeks been dented by the clashes in Libya, where rebels looked to regroup after forces loyal to longtime leader Moammar Gadhafi appeared to be clawing back ground.
The main market impact has been in the oil markets. Under normal circumstances, Libya produces about 1.6 million barrels of crude per day, but its output has been heavily affected by the violence. The country also has the biggest proven oil reserves in Africa.
Investors are also concerned that political upheaval …
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