By Julia PayneLONDON (Reuters) -Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output. While signs of softening U.S. demand weighed on oil prices and sent benchmark contracts sliding around 3% in the previous session, tight global supplies continued to keep the market buoyed. Supply fears were easing slightly though after resumed production at several oil fields earlier this week. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks. "This signals much more than a strong recovery from COVID-plagued years," RBC analyst Michael Tran said in a note.

Source: Libya Today July 22, 2022 11:34 UTC