Brent Crude Climbs Most in a Month on Libya
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Brent crude rose the most in a month amid concern that talks between the Libyan government and rebels won’t restore oil exports. West Texas Intermediate’s discount to Brent widened.
The European benchmark rebounded from the lowest level in almost five months. The rebels’ Executive Office for Barqa, representing the region of Cyrenaica, denied a report that the group will cede one of the four ports that have been under its control since July to the government in a few days. Libya’s oil output dropped to 250,000 barrels a day in March from 1.4 million a year earlier, according to data compiled by Bloomberg.