Close Menu
Libya Update NewsLibya Update News
  • Home
  • National
  • Region & World
    • The Maghreb
    • Middle East
  • Business
    • Oil & Gas
    • Economy
    • Analysis
  • Opinion
  • Editors’ Picks
  • Health & Lifestyle
  • Sports
Facebook X (Twitter) RSS
Trending
  • Rubio blasts judge who tried to block deportation of murderers from US to Libya
  • Egypt flies home 71 nationals from Tripoli after clashes
  • UN shares Advisory Committee’s recommendations, prepares for public consultation in Libya
  • At least 3 die, including 2 children, during Mediterranean crossing from Libya to Italy
  • Libyan advisory committee concludes its delibrations on contentious issues in electoral legal framework
  • Libyan Audit Bureau leaders meet in Tunis with World Bank, UN officials
  • SRSG TETTEH ADVOCATES FOR INTERNATIONAL SUPPORT FOR LIBYA’S POLITICAL PROCESS IN NEW YORK
  • Sirte Free Zone Explores Cooperation with Turkish Arkas Group to Develop Sirte Port
  • About Us
  • Contact Us
Facebook X (Twitter) RSS
Libya Update NewsLibya Update News
Subscribe
Friday, 13 June 2025
  • Home
  • National
  • Region & World
    • The Maghreb
    • Middle East
  • Business
    • Oil & Gas
    • Economy
    • Analysis
  • Opinion
  • Editors’ Picks
  • Health & Lifestyle
  • Sports
Libya Update NewsLibya Update News
Home » Oil prices rise, affected by reduced supplies from Russia and Libya

Oil prices rise, affected by reduced supplies from Russia and Libya

Wednesday, April 20, 2022 Business 1 Min Read

Oil prices rebounded, on Wednesday, from sharp losses in the previous session as concerns over tightening supplies from Russia and Libya dominated, while industry data showed a decline in US crude stocks last week.

On Tuesday, the Libyan National Oil Corporation declared force majeure at the Brega oil port. The corporation said, “It is unable to fulfill its obligations towards the oil market.”

Brent crude futures rose 66 cents, or 0.6 percent, to $107.91 a barrel this morning, while West Texas Intermediate crude futures for the month to maturity, which expire on Wednesday, rose 46 cents, or 0.5 percent, to $103.02 a barrel. The second month contract increased 64 cents to $102.69 a barrel.

Both benchmarks fell 5.2 percent in volatile trading, on Tuesday, after the International Monetary Fund on Tuesday cut its global growth forecast by a full percentage point, citing the economic effects of the Russian war in Ukraine, and warning that inflation is now a “clear and present risk” for many countries.

IMF Libya oil Russia Ukraine
Follow on Google News
Share. Facebook Twitter Pinterest LinkedIn Email Reddit Telegram WhatsApp Copy Link
Previous ArticleUN convey concerns of eastern JMC members to western counterparts
Next Article LNA representatives at JMC call on HoR and UN to assume responsibility for Dbeibeh’s government practices

Keep Reading

Libyan Audit Bureau leaders meet in Tunis with World Bank, UN officials

Sirte Free Zone Explores Cooperation with Turkish Arkas Group to Develop Sirte Port

Mellitah to drill eight wells offshore Libya to boost gas production

HoR Speaker, NOC Chair discuss Libya’s oil sector

Libyan Officials Discuss Sirte Free Zone Development and Security Cooperation

NDA Director, French President’s Advisor discuss cooperation in development, investment

Follow us on Twitter

The Libya Update Follow

Stay ahead of the curve with The #Libya Update - your go-to source for news and insights on Libyan politics, business, culture, and more. #LibyaNews

TheLibyaUpdate
thelibyaupdate The Libya Update @thelibyaupdate ·
11 Jun

Lt. Gen. #Saddam Khalifa, Chief of Staff of the Ground Forces in the Libyan National Army... #LNA, visited Rome at the invitation of the Italian government. He met with Interior Minister Matteo Piantedosi to discuss joint security and combating illegal migration.

The #Libya Update
4

Reply on Twitter 1932893593385005443 Retweet on Twitter 1932893593385005443 2 Like on Twitter 1932893593385005443 6 Twitter 1932893593385005443
thelibyaupdate The Libya Update @thelibyaupdate ·
3 Jun

Libya’s Ground Forces Chief, Maj. Gen. #Saddam Khalifa, joined army chiefs from 15 ...#Mediterranean countries at a France-hosted seminar on shared military and security issues, at the invitation of #French Army Chief Pierre Schill.

The #Libya Update
4

Reply on Twitter 1930043960640049611 Retweet on Twitter 1930043960640049611 4 Like on Twitter 1930043960640049611 4 Twitter 1930043960640049611
thelibyaupdate The Libya Update @thelibyaupdate ·
26 May

4

Reply on Twitter 1927122066957885859 Retweet on Twitter 1927122066957885859 Like on Twitter 1927122066957885859 1 Twitter 1927122066957885859
libya update
Facebook X (Twitter) RSS

News

  • National News
  • The Maghreb News
  • Middle East News
  • Business News
  • Sports News

Company

  • Information
  • Ethics Policy
  • Corrections Policy
  • Fact-Checking Policy
  • GDPR Policy

Categories

  • Editors’ Picks
  • Opinion
  • Health & Lifestyle
  • Videos
  • Infographics

Subscribe to Updates

    © 2025 All copyrights reserved. The Libya Update.
    • About Us
    • Privacy Policy
    • Advertising

    Type above and press Enter to search. Press Esc to cancel.