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Oil market strikes 2015 highs on Libya tensions

Last Updated: Wednesday, May 6, 2015, 19:16

Global oil prices hit 2015 peaks today as fresh tensions in oil producer Libya raised concerns about a supply disruption in the Middle East, analysts said.

Oil prices at 2015 highs

Last Updated: Wednesday, May 6, 2015, 08:15

US benchmark West Texas Intermediate for June delivery gained 87 cents to $61.27, while Brent crude for June rose 63 cents to $68.15 in afternoon trade.

Oil hits 2015 highs as Libya output slows, Saudis raise prices

Last Updated: Wednesday, May 6, 2015, 01:51

New York: Oil prices hit their highest for the year on Tuesday, aided by a disruption in Libyan crude exports, higher selling prices for Saudi oil and a weaker dollar that tends to inflate commodity prices.

Oil firms to $67, near 2015 high, as Libya output slows

Last Updated: Tuesday, May 5, 2015, 16:52

Brent crude oil rose to $67 a barrel on Tuesday, just below its 2015 high, after protests stopped crude flows to the eastern Libyan oil port of Zueitina, hampering exports.

Oil prices up in Asian trade

Last Updated: Friday, March 6, 2015, 09:39

Oil prices rose in Asia today as dealers focused on increasing tensions in the Middle East and Ukraine, while shrugging off concerns about surging US stockpiles, analysts said.

Oil prices up over 4% on Libya raid, China easing

Last Updated: Friday, February 6, 2015, 09:54

Crude prices closed up more than 4 percent on Thursday as rising violence in producer Libya and an expected boost in oil demand from China`s central bank easing helped the market rebound from a sharp rout in the previous session.

Oil falls below $56, heads for biggest annual drop since 2008

Last Updated: Wednesday, December 31, 2014, 12:09

Oil dropped below $56 a barrel on Wednesday and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC`s refusal to cut output.

US oil climbs above $55 a barrel on renewed Libyan tensions

Last Updated: Monday, December 29, 2014, 09:05

US crude briefly touched $55.74, up $1.01, after closing $1.11 down in thin trade on Friday. It was at $55.35 a barrel as of 0048 GMT.

Jailbreak in Libya, 54 detainees escape

Last Updated: Sunday, February 2, 2014, 21:58

A Libyan security official says that over 54 detainees have escaped from a prison in the capital Tripoli due to a security failure.

World needs to strengthen processes of multilateralism: India

Last Updated: Sunday, February 2, 2014, 01:23

Warning against unilateral intervention such as in Libya and Syria, India asserted that there is need to strengthen processes of multilateral consultation.

Libyan commander`s son kidnapped in Benghazi

Last Updated: Friday, January 31, 2014, 03:03

Libya has been wracked with political violence and instability since the end of the civil war in 2011, which saw many armed militias formed in the country.

Benghazi attack my biggest regret: Hillary Clinton

Last Updated: Tuesday, January 28, 2014, 11:40

Gearing up for a possible 2016 presidential run, former US Secretary of State Hillary Clinton has said the "biggest regret" of her tenure was the 2012 attack on a US consulate in Libya that killed four Americans, including its Ambassador.