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Oil falls again as amply global supply seen offsetting Libyan outage


Wednesday, 22 January 2020 09:27 WIB

Minyak WTIMinyak jenis Brent


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Oil prices edged lower on Wednesday, extending the previous session's drops, as investors continue to shrug aside the impact of almost all of Libya's crude production being off-line amid plentiful supplies elsewhere.

Brent crude (LCOc1) was down 13 cents, or 0.2%, at $64.46 a barrel at 0119 GMT, after dropping 0.3% on Tuesday. U.S. oil (CLc1) fell 16 cents, or 0.3%, to $58.22 a barrel, having declined 0.3% the day before.

Libya's National Oil Corporation on Monday declared force majeure on the loading of oil from two major oil fields after the latest development in a long-running military conflict saw forces loyal to commander Khalifa Haftar ordering the shutdown of facilities in the east and south of the country.

Source: Reuters


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