Oil Prices Hit Highest In Five Months As Libya Fighting Tightens Supply

www.oann.com | 4/8/2019 | Staff
hubbog (Posted by) Level 3
SINGAPORE (Reuters) – Oil prices on Tuesday reached their highest since November as concerns over exports from war-torn Libya stoked tightness in the market, with global supply already hit by OPEC-led production cuts and U.S. sanctions on Iran and Venezuela.

International benchmark Brent futures touched their strongest level since last November at $71.34 per barrel on Tuesday, and were still at $71.16 at 0057 GMT, up 6 cents, or 0.1 percent, from their last close.

US - West - Texas - Intermediate - WTI

U.S. West Texas Intermediate (WTI) crude oil futures also hit a November 2018 high, at $64.77 per barrel, before easing to $64.58, which was still 18 cents, or 0.3 percent, above their last settlement.

“Renewed fighting in Libya … has seen Brent crude break above $70 per barrel,” said Ole Hansen, head of commodity...
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