Oil's Up for Another Week as Libya Woes Add to U.S. Supply Dive
- Cushing, Oklahoma stockpiles at lowest level since 2014
- Output at Libya’s El-Feel oil field is said to be halted
U.S. Oil Supplies Hit OPEC Curbs
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Crude rose for a second week as American supplies drain and a key Libya oil field was shut.
News of a production halt at Libya’s 70,000 barrel-a-day El-Feel field helped cap a weekly drop of more than 3 percent, after a report Thursday showed storage tanks at the Cushing, Oklahoma, hub are at their lowest levels since 2014 as exports of U.S. crude surge.