Oil prices gain on Libya, Iraq supply worries
Tuesday, 21 January 2020 09:37 WIB | ENERGY |Minyak WTI
Oil prices rose on Tuesday after Libya declared force majeure on two major oilfields following a military blockade and protests escalated in Iraq, raising supply concerns.
Brent crude was trading up 11 cents, or 0.2%, at $65.31 per barrel by 0101 GMT. U.S. West Texas Intermediate crude futures were up 20 cents, or 0.3%, at $58.74 a barrel.
Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national output to a fraction of its normal level, the country's National Oil Corp (NOC) said.
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