Oil hits approximately $67 highs on Libyan pipeline blastLAGOS—OIL prices have touched two-and-a-half year highs in light volume boosted by an explosion on a crude pipeline in Libya and voluntary Oil Producing Exporting Countries, OPEC-led supply cuts. Libya has lost around 90,000 bpd of crude oil from a blast on a pipeline feeding Es Sider port, a Libyan oil source said, adding that NOC was still assessing the damage, according to Reuters. A Libyan military source said earlier that armed men had planted explosives at the pipeline. Brent crude, the international benchmark for oil prices, has risen to $66.76 a barrel. The post Oil hits approximately $67 highs on Libyan pipeline blast appeared first on Vanguard News.

Source: Libya Today December 28, 2017 03:45 UTC