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Force Majeure: Libya Oil Exports Move Explained

By Mary Phillips-SandyFeb 22nd 2011 – 2:50PM

It's in the contract. Global commodities traders are reporting disruptions of crude oil import and export activity in Libya, Reuters reports. According to the traders, Libya has declared force majeure on shipments in some ports, effectively halting some normal market activity. Force majeure (literally, superior force) is...

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