The Mercury

Oil chaos in Libya

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CONTINUING military clashes in Libya are not only negatively impacting efforts of its UN-backed government to stamp its authority, but have also led to a hike in oil prices.

Oil prices rose almost 2% yesterday after Venezuela said that Opec and non-Opec producers were close to reaching an output deal.

Clashes in eastern Libya also raised concerns that efforts to restart crude exports could be disrupted.– ANA

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