Stock markets are showing anxiety over the geo-political situation emanating out of West Asia. Tim Condon, Head of Research-Asia at ING Financial Markets told CNBC-TV18 that he expects the nervousness surrounding emerging markets to continue because of the negative newsflow coming out of Libya which is affecting crude supplies.
OPEC's leading oil price hawk Iran joined Venezuela and Libya on Sunday to say it saw no need for the cartel to consider raising crude supplies to rein in crude prices now near USD 100 a barrel.