Oil Settles at 11-Week High as Supply Outages Tighten Market
- Libyan oil fields halt production amid protests there
- IEA’s lowered projections still see demand reaching a record
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Global benchmark Brent settled at an 11-week high as supply outages tightened the physical market.
Libya’s second-biggest oil field is in the process of shutting amid protests there. The outage of the roughly 250,000 barrel-a-day Sharara field follows disruptions at the country’s El Feel area and Nigeria’s Forcados oil terminal.