Oil Hits $67 Per Barrel After Libyan Pipeline Blast

Oil Hits $67 Per Barrel After Libyan Pipeline Blast

Like This Video 0 101756 Segun Vincent
Added by December 27, 2017

Oil prices have reached two-and-a-half year highs in light volume boosted by an explosion on a crude pipeline in Libya and voluntary OPEC-led supply cuts.

Libya has lost around 90,000 barrels per day of crude oil from a blast on a pipeline feeding Es Sider port, a Libyan oil source said, adding that NOC was still assessing the damage.

A Libyan military source said earlier that armed men had planted explosives at the pipeline.The country’s output had been recovering in recent months after being held down for years by conflict and unrest.

Brent crude, the international benchmark for oil prices, has risen to $66.76 a barrel. Prices hit a session high of $66.83 a barrel.

US crude climbed to $59.76 a barrel after touching a session high of $59.86.

The impending restart of a key North Sea pipeline, Forties, limited the rally.

The pipeline is being tested after repairs and full flows should resume in early January, its operator said on Monday.

The producers have extended the supply cut agreement to cover all of 2018.

Similar Videos

It saddens me that my parents didn’t live to see my success – Obasanjo

0 98272 0

It saddens me that my parent who recently turned 81 has revealed one of his life’s biggest source of sadness. Speaking to an August assembly of Nigerian and foreign well wishers who gathered at the Olusegun Obasanjo Presidential Library, Abeokuta,

Akwa United’s Maikaba Gets Eaglets Job

0 189262 0

Akwa United manager Abdu Maikaba has been appointed as head coach of five-time world champions Nigeria’s Golden Eagles. Maikaba’s appointment was announced on Sunday by Technical and Development Committee of the Nigeria Football Federation (NFF). The new U17 handler, who

Ben Bruce Reacts To Arrest Of Innoson CEO

0 186844 0

Senator Ben Murray Bruce (PDP-Bayelsa East) has criticised the arrest of Innocent Chukwuma, the Chief Executive Officer (CEO) of Innoson Motors. The Economic and Financial Crimes Commission (EFCC) on Tuesday arrested Chukwuma at his Enugu residence. Wilson Uwujaren, the Spokesman

No Comments

No Comments Yet!

No Comments Yet!

But You can be first one to write one

Write a Comment

Your data will be safe!

Your e-mail address will not be published. Also other data will not be shared with third person.
Required fields are marked*