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Libya s NOC declares force majeure on Marsa el-Hariga exports amid budget crisis
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Libya s NOC banking on Total s support to help boost oil output
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At 10:46 am Singapore time (0246 GMT), the ICE Brent June contract was up 49 cents/b (0.73%) from the April 19 settle at $67.54/b, while the May NYMEX light sweet crude contract was 31 cents/b (0.49%) higher at $63.69/b. Oil prices were supported by a weakening US dollar, which boosts demand for dollar-denominated assets from buyers holding foreign currencies. At 10:38 am, the June contract for ICE Dollar Index trading at 91.010, down 0.583% from the previous settle. There was some optimism over an improving pandemic outlook in Europe, but this was countered by the deteriorating situation in India, which could dent domestic oil and energy demand. India reported a record 273,802 COVID-19 cases on April 18, latest data from John Hopkins University showed.
NOC declares force majeure at Marsa al Hariga
The National Oil Corp. (NOC) has declared force majeure at its Marsa al Hariga terminal, as of April 19, blaming the Central Bank of Libya (CBL).
NOC s chairman Mustafa Sanalla
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The National Oil Corp. (NOC) has declared force majeure at its Marsa al Hariga terminal, as of April 19, blaming the Central Bank of Libya (CBL).
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