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Oil surges as Libyan pipeline shutdown cripples output

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Brent crude LCOc1 futures were up by 75 cents, or 1.2%, to $65.60 by 0109 GMT.

TOKYO – Oil prices jumped on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle.

In the latest development in a long-running conflict in Libya, where two rival factions have claimed the right to rule the country for more than five years, the National Oil Corporation on Sunday said two big oilfields in the southwest had begun shutting down after forces loyal to the Libyan National Army closed a pipeline.

 

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پاکستان تازہ ترین خبریں, پاکستان عنوانات

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