Oil prices pop as Libyan oil exports remained halted
oil futures opened modestly higher after recording three consecutive weeks of losses. Oil prices have been under pressure lately, influenced by concerns over a potential slowdown in demand from China, a major importer, coupled with the possibility of increased supply from leading producers.
This disruption led Libya's National Oil Corp. to declare force majeure on the El Feel oil field, effective since September 2. Further influencing the oil markets, the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are reportedly planning to continue with their scheduled output increases starting in October, Reuters reported.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil prices pause after surging on Libyan outages, Middle East tensionsOil prices pause after surging on Libyan outages, Middle East tensions
Read more »
How to Trade Oil: Crude Oil Trading Strategies & TipsHow does oil trading work and what strategies should you follow? Learn how to trade crude oil with our expert guide, including top tips on tracking oil price movements…
Read more »
Oil tanker attacked by Houthis in Red Sea appears to be leaking oil, Pentagon saysThe Greek-flagged crude oil tanker Sounion that was recently attacked by Yemen’s Houthis is still on fire in the Red Sea and now appears to be leaking oil, a Pentagon spokesman said on Tuesday.
Read more »
OPINION: The next president needs Alaska natural gasWith U.S. conventional oil long past its 1970 peak, U.S. Lower 48 shale oil peaking and U.S. and Alaska deep offshore oil limited, U.S. peak oil is close at hand.
Read more »
Libyan parliament ends term of Tripoli-based government amid political riftThe Libyan House of Representatives announced cutting ties with the internationally-recognised government.
Read more »
A Libyan human trafficker sanctioned by the UN has been killed in Tripoli, officials sayLibyan officials say one of the country's most wanted human trafficker was killed Sunday in the capital, Tripoli. They say Abdel-Rahman Milad was shot dead Sunday by unknown assailants. Libyan media outlets reported that he was shot while he was in his vehicle in a western area of Tripoli.
Read more »