(Bloomberg) -- Oil rose as physical markets in the US strengthened and demand from China showed signs of picking up. Read More: Physical US Oil Prices Rise to Highs of Year on Refinery DemandSome positive signals on demand also are emerging. In China, a boom in travel during the Lunar New Year holidays has raised hopes of a more sustained recovery in consumption. In wider markets, a gauge of the US currency was steady, while most other commodities, including copper, were weaker. Most Read from Bloomberg Businessweek©2024 Bloomberg L.P.

El Burhan stressed that the government of Sudan agreed to negotiate in the Jeddah platform in order to end the suffering of the Sudanese people. During the meeting, El Burhan voiced appreciation "for the positive positions of Libya towards Sudan, calling for and supporting Sudan's unity, national security and stability, and rejecting negative foreign interference in the two brotherly countries". Al Menfi affirmed Libya's support for Sudan and its support for its unity, security, and territorial integrity, indicating that Sudan is an important country for Libya, and its stability and cohesion cannot be neglected. In his post, Hemedti expressed his thanks to Dbeibeh, and promised to meet him "in the near future". The RSF commander also expressed his thanks for the Libyan initiative and efforts in supporting stability and peace in Sudan.

NGO calls for public inquiry into death of five migrants during rescue operation in Maltese watersSAR Malta Network, an NGO, has called for a public inquiry into the death of five migrants during a rescue operation in Maltese waters last Friday. During a rescue operation carried out by the Armed Forces of Malta the boat capsized. The AFM rescued 29 people but five others lost their life with the Maltese government expressing “deep regret” over the loss of life. “We therefore demand that the Maltese authorities carry out a comprehensive and public inquiry in a timely manner under the Inquiries Act. We also demand that all survivors of this shipwreck are released from detention immediately so they may receive the appropriate support and care,” the NGO said.

April WTI crude oil (CLJ24) this morning is up +0.78 (+1.02%), and Apr RBOB gasoline (RBJ24) is up +3.92 (+1.56%). In addition, a jump in the crude crack spread today to a 5-month high is positive for crude prices. Strength in the crude crack spread supports crude prices as the crack spread today rose to a 5-month high. A decline in Russian crude oil exports is supportive of crude oil prices. OPEC Jan crude production fell -1.59 million bpd to 26.570 million bpd, a 2-1/2 year low.

After the resumption of civil air links between Rome e Tripoli, Italy could also restart flights with Benghazi, the capital of the eastern region of Cyrenaica. Akouri expressed Libya's hope to benefit from Italian experience in agriculture, in the restoration of antiquities and in cooperation at municipal and university levels. For his part, Alberini reiterated Italy's desire to strengthen bilateral relations in all sectors and to be a friend to all Libyans. The diplomat explained that a delegation from the Italian National Civil Aviation Authority (Enac) recently visited Benina International Airport to assess the conditions of the airport in view of the opening of flights from Benghazi to Rome. Finally, Alberini announced Italy's intention to expand agricultural cooperation, initially concentrated on the southern regions, to other areas of the North African country.

Abdel Fattah al-Burhan has arrived in Libya following a ceasefire proposal by Mohamed al-Menfi, the chairman of the Libyan Presidential Council. The GNU revealed last week that Dbeibah initiated a ceasefire proposal and will be inviting both warring sides for negotiations over the Sudan war. On Saturday, Dbeibah held talks with the Rapid Support Forces (RSF) commander Mohamed Hamdan Dagalo and invited him to Libya on a diplomatic visit. The war in Sudan is rapidly transcending into a more dangerous horizon, specifically amid the most recent developments. For over two decades in Darfur, the RSF has employed the "scorched earth" war tactic, involving the deliberate widespread destruction of property and resources.

The prospect of the pipeline closing GreenStream, which transports Libyan gas to Italy, is more worrying for Libyan consumers than for Italian ones. In other words: theItaly can also do without Libyan gas, Libya certainly cannot. Libyan gas had an impact of 4,17 percent on Italian gross domestic consumption, equal to 61,520 billion cubic meters. A fund that should actually be financed by the governor of the Central Bank of Tripoli, Al Siddiq al Kabir. The Central Bank is the country's treasury, and it is the government that depends on it, and not vice versa.

Chairman of Libya’s Presidential Council, Mohammed Menfi, held talks today with General Abdel Fattah al-Burhan, the de facto ruler of Sudan and leader of the Sovereign Council, who arrived in Tripoli for his first visit in the country. The two discussed the ongoing war in Sudan, peace prospects and bilateral cooperation between both countries, according to a statement by the Libyan council. In a joint press conference after their meeting, Burhan thanked Libya for hosting tens of thousands of displaced Sudanese, adding that the country is providing them “with free education and facilitates administrative procedures”. The Sudanese leader also underlined that his country is working with its Libyan “brothers” “to overcome the difficult challenges we all face”, stating that he appreciates Libya’s “positive” role in Sudan. For his part, Menfi reaffirmed Libya’s adherence to the principle of non-interference in Sudan’s internal affairs, politically and militarily, underlining that Libya “will treat Sudanese refugees in the same way as Libyans in all aspects, educational and health”.

General Abdel Fattah al-Burhan, the de facto ruler of Sudan and leader of the Sovereign Council, arrived in Libya today where he held talks with the country’s Prime Minister Abdul Hamid Dbeibeh in the capital Tripoli. In his first visit to Libya, Burhan discussed with Dbeibeh “a number of regional and international issues of common interest between the two countries,” according to a brief statement by the Libyan premier’s media office. Earlier this week, Dbeibeh urged Burhan’s rival, Mohamed Hamdan Dagalo, to find a point of agreement with the actors involved in the civil war in Sudan to bring peace to the country. The statement came during a telephone conversation in which Dbeibeh invited the Sudanese general to visit Libya. Burhan has increasingly been traveling around the world in what are seen as efforts to burnish his legitimacy.

(Bloomberg) -- An oil field in western Libya and a natural gas link to Italy resumed after a short halt as protesters withdrew from the facilities following assurances from the government that their demands would be met. The gas pipeline to Italy is also operating again, they said, asking not to be identified because the information is private. Protests have regularly disrupted energy infrastructure and output in Libya. The biggest oil field Sharara had a weekslong force majeure, a clause in contracts allowing deliveries to be suspended, last month following similar demonstrations. Most Read from Bloomberg Businessweek©2024 Bloomberg L.P.

ISLAMABAD, (UrduPoint / Pakistan Point News - 26th Feb, 2024) Special Judge Central-I Gujranwala Mohammad Naeem Shaikh, upon completion of the trial in Libyan boat accident case, sentenced accused Shahzad Elahi to 20 years imprisonment and a fine of Rs. 23 lac for sending the nephew of the complainant to Italy, however the victim named Ahsan Iqbal died in a Libyan boat accident. The Federal Investigation Agency (FIA) in Gujranwala taking action against human traffickers, had arrested 814 people, including 93 of those who were suspects in the tragedy. The human traffickers first used the border routes of Afghanistan, Iran and Turkey for their illicit trade. The human traffickers had taken hundreds of millions of rupees from the youth.

Libya's 37,000 b/d Wafa oil field and Greenstream pipeline, which transports natural gas to Italy, have been shut in a coordinated protest Feb. 25, sources told S&P Global Commodity Insights. The Wafa project, part of Eni's Mellitah Oil and Gas complex, produces around 37,000 b/d of oil and 22,000 boe/d of natural gas, according to its website. At the same time, PFG protesters announced the closure of the al-Zawiyah terminal on Libya's northern coast, part of the Greenstream pipeline, potentially hitting exports to Europe, the sources said. In January, protesters shut the country's Sharara oil field, its largest, for two weeks. Gas from Wafa is transported through the 520-km Green Stream pipeline, which connects Libya with to Sicily in Italy.

The Government of Germany has renewed its partnership with the United Nations Development Programme (UNDP) in support of Libyan elections. Committing additional German resources to UN-coordinated international election support, Dr. Buck underscored the importance of elections to sustainable peace, political stability and development. To date, Germany has contributed approximately USD 7 million to the UNDP Promoting Elections for the People (PEPOL) project in Libya. PEPOL provides technical assistance to Libya’s High National Elections Commission (HNEC), supporting its capacity and readiness to prepare and hold national elections as part of its 2023 – 2025 Country Programme. The project is implemented by the United Nations Electoral Support Team (UNEST), comprised of experts from UNDP and the UN Support Mission to Libya (UNSMIL).

Libyan forces guarding oil facilities in the country announced on Sunday the closure of oil fields in a dispute over pay. "We will unfortunately close all oil facilities," the Petroleum Facilities Guards (PFG) said in a video statement aired by broadcaster Libya al-Ahrar. The PFG demands a pay raise for its members and the disbursement of bonuses similar to employees of the country's state-run National Oil Corporation. On Feb. 15, the PFG gave a 10-day ultimatum to the Tripoli-based government to fulfil their demands, threatening to shut the country's oil fields. There was no comment from the government on the PFG move as of 3.15 p.m. local time (1315GMT).

GUJRANWALA: The Special Judge Central has sentenced a human trafficker involved in the Libyan boat tragedy to 20 years in prison. According to the Federal Investigation Agency, the hearing was held in the court of the special judge central. According to the FIA, a case against Rasheed was registered in 2023 by the Composite Circle, Gujranwala. KITE: Regional Police Officer Tayyab Hafeez Cheema has asked all CPOs/DPOs to take measures to prevent kite flying and implement the Kite Flying Ordinance. During the last three months, the Gujranwala Regional Police have registered 178 cases and arrested 182 people involved in kite flying and selling.