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World Bank - Commodity Prices to Stabilize after Early 2021 Gains, Supported by Global Economic Recovery
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To Quench Its Thirst for Oil, America Nearly Invaded Saudi Arabia
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Commodity prices to stabilize after early 2021 gains, supported by global economic recovery
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Oil hits $68 on Libya force majeure despite pandemic surge By Jessica Jaganathan
By Alex Lawler
LONDON (Reuters) -Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by disruption to Libyan exports and expectations of a drop in U.S. crude inventories, though rising coronavirus cases in Asia limited gains.
Libya declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities, citing a budget dispute. Hariga is scheduled to load about 180,000 barrels per day (bpd) in April.
Brent crude was up 64 cents, or 1%, at $67.69 a barrel by 1004 GMT after hitting its highest since March 18 at $68.08. U.S. West Texas Intermediate (WTI) crude gained 60 cents, or 1%, to $63.98.
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