REUTERS/Sergei Karpukhin/File PhotoNEW YORK Oil prices rose as much as 2 percent on Tuesday after a severe disruption to Libyan oil supplies and as officials suggested OPEC and other producing countries could extend an output cuts deal to the end of the year. West Texas Intermediate (WTI) crude CLc1 ended the session 64 cents, or 1.34 percent higher at$48.37 a barrel. Major oil traders gathered in Switzerland this week said they expected the output cuts to be extended, providing Russia complies. Still, resurgent U.S. oil production and record domestic crude inventories have kept pressuring oil prices. Analysts polled by Reuters predicted that data will show U.S. crude oil stocks rose 1.2 million barrels in the latest week.

Source: Libya Today March 28, 2017 01:36 UTC