4/20, 12:20 PM (Source: TeleTrader)
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Oil prices jump as Libya halts crude exports

Oil prices climbed on Tuesday amid lower output from Libya, where the country's National Oil Corporation (NOC) halted exports from the port of Hariga.

The force majeure on crude exports was declared due to a lack of funding from the Central Bank of Libya, according to the NOC, leading to a drop in Libya's output to bellow 1 million barrels a day.

Brent crude futures for June delivery rose 0.97% to $67.64 per barrel at 6:00 am ET. At the same time, West Texas Intermediate for May delivery was up 0.88% to $63.99 per barrel.

Breaking the News / JC