NEW YORK, United States — Oil prices in New York jumped to a two-and-a-half year high Tuesday and briefly topped $60 a barrel due to a Libyan pipeline explosion and frigid weather in the US. Brent North Sea crude for February delivery advanced $1.77 to $67.02 a barrel, a level not seen since mid-2015. ‏”NOC continues to investigate the causes of the explosion” north of the town of Marada, according to the statement. In addition, Flynn said cold weather in the US would lift demand for heating oil and natural gas, pressuring supply. Saudi Arabian officials are forecasting their first budget surplus in a decade amid expectations of higher oil prices, Bloomberg News reported, citing unnamed sources.

Source: Libya Today December 26, 2017 21:00 UTC