Libya shut down its largest oil field amid protests against Libyan Prime Minister Abdul Hamid Dbeibah. The outage sparks more global supply fears, and Libya's National Oil Corp warned of a wave of closures. Brent crude prices jumped above $113 a barrel for the first time since March, and WTI traded around $108. Russian oil has continued shipping in April, though cargoes are traveling much further distances to find buyers. So far, the European Union, which is very reliant on Russian oil, has moved to ban Russian coal imports, but has stopped short of banning oil and gas immediately.

Source: Libya Today April 18, 2022 20:17 UTC