From Investing.com: 2024-09-02 15:35:31

Oil prices rose on Monday as Libyan oil exports remained halted, easing concerns about higher OPEC+ production. U.S. West Texas Intermediate crude increased by 0.7% to $74.04, while Brent futures settled up 0.8% at $77.52. Major Libyan ports stopped exports, leading to production cuts due to a standoff over control of oil revenue. OPEC+ is set to boost oil output by 180,000 bpd in October, with eight members scheduled to increase production. Concerns about U.S. and Chinese demand have outweighed supply disruptions in Libya and conflict in the Middle East, leading to losses for Brent and WTI for two consecutive months.



Read more at Investing.com: Oil edges higher as halted Libyan exports balance expected OPEC+ supply boost By Reuters