A large amount of Libyan production remains shut-in after UN-brokered talks have collapsed, meaning supply disruptions now total 1.5 million b/d already
Crude prices recovered on Friday, breaking the four-week losing streak in oil, with WTI rising to $70 per barrel. Friday, September 13, 2024 Hurricane Francine helped oil prices edge higher after bearish sentiment overtook the market, taking off some 700,000 b/d of oil supply from the market, even if for several days. .
Russian President Vladimir Putin stated that Moscow would consider limiting exports on uranium, titanium and nickel in retaliation for Western sanctions, sending the three-month LME nickel contract 3% higher to $16,150 this week. Related Does OPEC Still Hold Sway Over U.S. Oil Markets BlackRock Invests into Bahrain’s Pipeline Grid.
Oil Prices Oil Markets Supply Disruptions Libya Francine
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