The immediate day after the announcement of bin Laden’s death, oil prices decreased 2%. Oil prices are usually cheaper in times of peace or lowered terrorist activity and the death of bin Laden had the effect of perceived peace. However, during midday the prices began climbing again to finally end at slightly lower than they initially began. Overall, it seems that the death of bin Laden will have little effect on the prices of oil as Al Qaeda and other terrorist groups are still active.
Gas prices fell slightly in the immediate aftermath, like phillius stated. However, it wasn’t exactly an economic corollary that meaningfully impacted the oil industry and/or supply & demand; rather, people worldwide were pleased and it reflected a significant triumph in the region where a lot of oil is produced and exported. There were two competing considerations: would the region face increased terrorist activity for retribution, or would it engender stability and control?
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