Articles Tagged "libya"

Brent Crude slips to $110 a barrel, supported by Ukraine Crisis

Oil – Reuters reported today that Brent Crude dropped to $109.93 today, but settled at $1.22 higher by the end of the day. According to Reuters, oil prices were bolstered by worries that ongoing struggles in the Ukraine would threaten oil supplies for Europe. Port closures in Libya gave further weight to worries over oil inventories.

Libyan Rebels Agree to Gradually Reopen Oil Ports

Oil – Reuters reported this morning that the Libyan government has reached an agreement with rebels to end an oil port deadlock that has lasted for eight months. The port seizure, initiated by federalist protesters, has cost the Libyan economy billions of dollars so far.

Oil Shoots over US $107

Oil – Business Times reported that the price of Brent crude rallied on Monday, climbing more than US$1 to over US$107. The rebound comes after oils biggest weekly fall in six months, following news of a restart of a key Libyan oilfield.