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"Rising oil prices fuel inflation," headlines La Vanguardia. According to the Spanish daily, markets are worried that "the ECB will anticipate a rise in interest rates to counteract inflation.” In London, the Financial Times reports that Saudi Arabia has entered “active talks” with European companies, and asked European refiners “what quantity and what quality of oil” they will need to make up for the shortfall caused by the suspension of 25% to 75% of Libyan oil supplies. Warning that an inflationary scenario "will have to be fought by a more stringent monetary policy than the one currently in place," La Vanguardia expresses its concern over an increasingly "sombre outlook for economic recovery."
