Oil Dips Below $80 on Libya Output, Weak Demand in ChinaOil dipped below $80 per barrel (bbl) in the global commodities market on Tuesday as the forces weak demand in China was supported by increase output in Libya. Prices of crude oil had climbed strongly yesterday with Brent closing just below $81 amid fears over oil infrastructure in the Middle East if Israel-Iran conflict escalates further. Without policy support, an economic slowdown could keep China’s oil demand subdued in the short to medium term, ING said. Reports suggest that oil output in the region reached 1.1m bbls/d, following the removal of a blockage by the eastern government on 3 October. #Oil Dips Below $80 on Libya Output, Weak Demand in ChinaNigerian Treasury Bill Yield Climbs to 23%

Source: Libya Today October 08, 2024 16:55 UTC