Tag Archives: Libya
Crude Oil Drops on Expectations of Higher OPEC+ Output
On Friday, crude oil prices declined by 3.11%, closing at $73.60. The downturn extended to Monday as investors weighed the likelihood of increased OPEC+ production starting in October against a steep decline in Libyan output, amid sluggish demand in China and the U.S., the world’s two largest oil consumers. (Crude Oil Daily Price Chart, Source: […]
Oil Price Soar, Boosting Canadian Dollar
On Monday, oil price surged 2.92%, closed at $77.10 per barrel, marking its largest gain in two weeks. This surge was primarily driven by the Libyan government’s declaration of force majeure on all oil facilities in Benghazi, which threatens to significantly disrupt global oil supply. (US Oil Daily Price Chart) In addition, rising tensions in […]
