Oil prices have risen steadily this year on expectations of a recovery in demand but while the United States and China are rebounding, numerous other countries are not. read more"Given India's position as a major crude oil importer in the world, new restrictions would be very bad for the energy complex," said Bob Yawger, director of energy futures at Mizuho. Brent crude fell $1.26, or 1.9%, to $65.79 a barrel by 11:21 EDT (1521 GMT) after earlier reaching its highest since March 18 at $68.08. U.S. West Texas Intermediate (WTI) crude fell $61.77, or 2.5%, to $1.61. Overall, oil prices have recovered from historic lows last year, helped by some demand recovery and huge output cuts by OPEC and allies, together known as OPEC+.

Source: Libya Today April 20, 2021 02:08 UTC