Oil rises as Libya outage adds to supply

25 November 2024

Oil rises as Libya outage adds to supply woes

10:16 19 April 2022 Read: 591

Oil rises as Libya outage adds to supply woes

Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a COVID-19 shutdown, easing some demand worries, AzVision.az reports citing Reuters.

Brent crude futures rose 61 cents, or 0.5%, to $113.77 a barrel at 0349 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 33 cents, or 0.3%, to $108.54 a barrel.

Gains were limited with the dollar trading at a fresh two-year high. A stronger dollar hurts oil buyers holding other currencies.

More about: Brent WTI

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