oil climbs higher on libya conflict
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Oil climbs higher on Libya conflict

Arab Today, arab today

Arab Today, arab today Oil climbs higher on Libya conflict

Arabstoday

Crude oil rose on Friday, with Brent pushing toward $116 a barrel, as Libyan security forces began a violent crackdown on protesters in Tripoli and clashed with rebels near the major oil terminal of Ras Lanuf. Al Jazeera television also reported that an oil facility at Zueitina, south of Benghazi was damaged and on fire. By 1448 GMT, Brent crude futures for April delivery were up 87 cents to $115.66 a barrel, after earlier touching $116.30. US crude futures for April rose $1.27 cents to $103.18 a barrel. The intraday peak was $103.57, the highest since front-month crude hit $106.91 on Sept. 29, 2008, eclipsing $103.41 reached on Feb. 24. “Tension in the Middle East is like a runaway train,” said Michael Hewson, an analyst at CMC Markets. “Once it starts it’s very difficult to stop. And if there is a danger that it impacts the supply chain, people will understandably get nervous.” Barclays Capital analysts said in a note the chances of a swift resolution in areas of tension had reduced considerably. “Libyan oil is likely to be lost to the market for an extended period, tying up considerable amounts of replacement oil in much longer supply chains, and events in Nigeria, Iraq, Iran and Bahrain are likely to provide a continuing backdrop of headline risks,” they said. Investors and traders have been tracking the civil unrest in North Africa and the Middle East for any sign that Saudi Arabia, OPEC’s leading oil producer, would be affected. Libya’s oil output has fallen to 700,000-750,000 barrels per day (bpd) from normal levels of 1.6 million bpd as most foreign oil workers have taken flight, according to Shokri Ghanem, the head of Libya’s state-owned oil company.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oil climbs higher on libya conflict oil climbs higher on libya conflict

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oil climbs higher on libya conflict oil climbs higher on libya conflict

 



GMT 04:22 2017 Tuesday ,26 December

Israel in touch with '10 countries' over embassy moves

GMT 19:43 2017 Friday ,06 October

Employee safety top priority at Khalifa Port

GMT 16:19 2017 Friday ,28 April

ISIS Suspect Arrested in Western Germany

GMT 12:57 2017 Monday ,11 December

50 Students Poisoned by Contaminated Well Water

GMT 16:31 2017 Thursday ,10 August

Palestinians will discuss decline of aids

GMT 21:15 2017 Saturday ,04 March

Obama never ordered surveillance on any US citizen

GMT 10:00 2017 Thursday ,09 March

Russia ‘can be good friends with GCC’

GMT 02:13 2017 Wednesday ,22 February

Russian helicopter crash kills 19 in Siberia

GMT 13:23 2017 Tuesday ,05 December

Lebanon PM Hariri rescinds resignation

GMT 00:39 2017 Tuesday ,05 December

Gunmen kill cleric in Aden, southern Yemen

GMT 11:43 2016 Thursday ,24 November

Will learn from Euro exit

GMT 06:56 2017 Tuesday ,17 October

US ‘not taking sides’ between Iraqi forces, Kurds

GMT 19:59 2017 Thursday ,16 February

Syrian opposition's chief negotiator arrives in Astana
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday