Oil prices slipped in volatile trading today as investors weighed demand concerns against tight global supplies after Libya halted some exports and as factories in Shanghai prepared to reopen following a Covid-19 shutdown. US crude oil inventories likely rose last week, while distillate and gasoline stockpiles were seen down, a preliminary Reuters poll showed on Monday. The price decline on Tuesday followed a rise of more than 1% on Monday, when oil prices hit their highest since March 28 on Libyan oil supply disruptions. The possibility of a European Union ban on Russian oil for its invasion of Ukraine continued to keep the market on edge. French Finance Minister Bruno Le Maire said on Tuesday that an embargo on Russian oil at a European Union level was in the works.

Source: Libya Today April 19, 2022 09:44 UTC