Fighting breaks out in Libya
By Richard Rostad, analyst, Oil & Gas 360

Oil prices rose today, as geopolitical risk threatening supply instability once again asserted itself in the markets.

WTI prices rose by 2.16% today, finishing the day at $64.44. Brent, meanwhile, rose by 1.07% to $71.09.

Instability in Libya has once again imperiled the country’s output, as rival groups struggle for power. The warlord Khalifa Haftar, who controls much of the eastern and southern portions of the country, has now moved to attack the internationally recognized government in Tripoli.

This move marks the end of a fragile peace that has persisted while the UN and several nations attempted to negotiate a settlement between the rival government...

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