Reuters TUNIS/LONDON – Libya’s National Oil Corporation (NOC) lifted force majeure on all oil exports on Friday as a Vitol tanker loaded at Es Sider after a half-year blockade by eastern forces, but said technical problems caused by the shutdown would keep output low. “The increase in production will take a long time due to the significant damage to reservoirs
Reuters NEW YORK (Reuters) – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output. Brent crude LCOc1 was down $1.39, or 2.2%, at $63.20 a barrel by 11:09 a.m. ET (1609 GMT). West Texas Intermediate CLc1 fell $1.46, or
Reuters LONDON (Reuters) – Oil prices fell more on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle. Brent crude LCOc1 was down 37 cents at $64.83 a barrel by 1450 GMT, having hit a session low of $64.06. U.S. West Texas Intermediate crude CLc1 was down
Reuters LONDON – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Brent crude LCOc1 was up 59 cents, or 0.9%, at $65.44 by 1442 GMT, having earlier touched $66 a
