Rumor Gadaffi Making Preparations To Leave Libya Sends Oil Lower

Tyler Durden's picture

From the BBC: "Libyan sources have told the pan-Arab newspaper al-Sharq al-Awsat that Col Gaddafi has turned to the rebel Transitional National Council to secure his departure from the country in return for guaranteeing his and his family's safety. He sent a negotiator on his behalf to Benghazi and made handing over power before Libya's parliament, the General People's Congress, his condition, the sources said." If confirmed, look for oil to drop substantially. However, since this is almost certainly the latest totally bullshit rumor in a long string of market manipulation attempts, any drop in commodities should likely be BTFDed with a vengeance.