International benchmark Brent crude rose $1.81, or 2.8%, to $67.06, after hitting an intraday peak of $67.10, its highest level since May 2015. Meanwhile, U.S. West Texas Intermediate crude futures jumped $1.50, or 2.6%, to $59.97, having traded as high as $60, the best level since June 25, 2015. Both countries have suffered oil supply outages related to internal conflicts. That deal has helped to balance a glutted market, so supply disruptions are more likely to push up crude prices. Prices have been supported in recent weeks by another pipeline outage that carries U.K. North Sea Forties crude to market.

Source: Libya Today December 26, 2017 19:30 UTC