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Oil Rises From Two-Week Low Amid Libya, Nigeria Supply Fears

  • Shell, Chevron evacuate workers in Nigeria on security concern
  • Libya's eastern oil fields may halt output amid port blockage
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Will Saudi Arabia Keep Pumping Oil at Full Speed?

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Oil rose from a two-week low on concern that supplies from Nigeria and Libya, holders of Africa’s largest crude reserves, will be disrupted.

Futures advanced 2.8 percent in New York. Royal Dutch Shell Plc and Chevron Corp. are evacuating workers from the Niger Delta because of deteriorating security, a union official said. In Libya, some fields will be forced to halt output unless a port blockade is lifted, according to the National Oil Corp. Canada’s oil-sands companies curbed supply as wildfires ripped across Northern Alberta last week. Gains accelerated as global equities rose.