Crude oil futures traded higher on Thursday morning as fears over supply disruptions increased following protests in Libya. At 9.53 am on Thursday, March Brent oil futures were at $78.59, up by 0.43 per cent; and February crude oil futures on WTI (West Texas Intermediate) were at $73.16, up by 0.63 per cent. Market reports said the oilfield produces around 300,000 barrels a day of crude oil. Following this development, crude oil futures gained around 3 per cent on Wednesday. Meanwhile, data from the industry body American Petroleum Institute (API) showed a decline in crude oil inventories in the US.

Source: The Hindu January 04, 2024 21:38 UTC