LONDON: Brent crude oil rose towards $110 per barrel yesterday after oil exports from Libya fell to their lowest for two years, heightening supply worries ahead of scheduled cuts in output from fellow Opec member Iraq.
Striking security guards shut Libya's two biggest crude export terminals on Monday, hours after they had reopened, and more oilfields have closed in a wave of protest that has swept the North African oil producer.
Libya's deputy oil minister said exports could resume as early as Thursday after workers and local authorities reached an agreement to end the strike.
But the Opec exporter said it could not make any promises to clients now about its deliveries of crude next month due to the on-off strikes. Reuters
