Oil prices at the international market rose yesterday on uncertainty over Libyan oil exports, as Organization of Petroleum Exporting Countries (OPEC’s) plans to raise output continued to drag.
Brent crude futures, the international benchmark for oil prices, rose to $74.95 per barrel up by 22 cents, or 0.3 percent from their last close, while the U.S. West Texas Intermediate, WTI, crude futures were at $68.33 a barrel, up 25 cents, or 0.4 percent.
Traders said prices were mostly driven higher by uncertainty around oil exports by Libya, a member of the OPEC. Eastern Libyan commander Khalifa Haftar’s forces have handed control of oil ports to a separate National Oil Corporation (NOC) based in the East of the country.
The official state-owned oil company based in the capital Tripoli, also called NOC, will not be allowed to handle that oil anymore, he said. In comments later confirmed to Reuters, Ahmed Mismari, spokesman of Haftar’s Libya National Army (LNA), said on television…
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