BEIJING (Reuters) – Oil prices rose in early trade on Thursday, extending the previous day’s sharp gains on concerns about Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war. Brent crude rose 33 cents, or 0.42%, to $78.58 abarrel by 0101 GMT, while U.S. West Texas Intermediate crudefutures rose 40 cents, or 0.55%, to $73.10. Both benchmarks rose by around 3% to settle higher for the for the first time in five days on Wednesday, with WTI seeing the biggest daily percentage gain since mid-November. On Wednesday, local protests forced a full shutdown of production at Libya’s Sharara oilfield, which can produce up to 300,000 barrels per day. The field, one of…
Published Date: 2024-01-04
Source: Investing.com
Categories: Society, Issues, Terrorism, Warfare and Conflict, Science, Environment, Energy, Business
