Oil Rises to Highest This Year on Libya, Iraq Disruptions

Oil rose to the highest level this year as chaos in Libya curbed output and as an agreement between Iraq’s central government and the Kurdish region over crude exports was tested by falling prices.

Crude climbed 1.8 percent in London and 1.4 percent in New York. A spokesman for Libya’s National Oil Corp. said over the weekend that it will stop pumping at all fields if authorities fail to contain attacks that endanger workers. Talks on Monday between Iraq’s central authorities and the Kurdistan Regional Government over oil exports ended without agreement.