Libyan rebels’ hopes to sell oil to the world’s markets from its 3 occupied ports took a major hit last night as US Special Forces regained control of a renegade oil tanker.
The “Morning Glory” tanker had loaded oil from the seized Libyan port of Es Sider and evaded the attentions of the Libyan Navy before escaping into international waters. This was initially hailed as a major success for the rebels who seemed poised to enter the international oil market.
However the boat was recaptured by a team of US Special Forces as it sailed through international waters. The operation took less than 2 hours and there are no reported casualties.
The US’ intervention could spell the end for Libya’s protestors. While their 600,000 barrel per day strangle hold on the countries oil supply will continue, their failure to generate funding by emerging as a viable seller of the country’s oil will put a huge dent in their financial capabilities.
Earlier this week, Libya put the rebels on 2 week notice, after which time the country said it will use military force to reclaim its ports. This sort of rhetoric has been rumbling on for the last six months with numerous deadlines passing and little action materialising.
The US’ actions in reclaiming the ship have sent a clear message to the rest of the world that it will not tolerate countries engaging in commerce with the rebels. In doing so, the US has cut off a huge source of potential funding to the rebels which will certainly weaken their position against the Libyan government. Source: Arabian Oil and Gas