LCO 0.00% Add to/Remove from Watchlist CL -0.10% Add to/Remove from WatchlistInvesting.com -- Oil prices rose Thursday, adding to the previous session’s gains on increased concerns over the potential for supply disruptions from the crucial Middle East region. By 09:25 ET (14.25 GMT), the futures traded 0.8% higher at $73.25 a barrel and the contract climbed 0.5% to $78.66 a barrel. Risk of supply disruptions risesBoth contracts surged around 3% on Wednesday after protests over high fuel prices caused Libya’s El Sahara oil field to halt production, with the field producing about 300,000 barrels per day. A survey by the news agency points to the group’s output falling by a marginal 40,000 barrels a day in December month-on-month. “Given that some OPEC+ members agreed on additional voluntary cuts of almost 900,000 bbls/d for 1Q24, OPEC output will edge lower this month,” analysts at ING said, in a note.
