{"id":8998,"date":"2021-04-20T10:02:26","date_gmt":"2021-04-20T10:02:26","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/04\/20\/oil-prices-rise-on-libya-force-majeure\/"},"modified":"2021-04-20T10:02:26","modified_gmt":"2021-04-20T10:02:26","slug":"oil-prices-rise-on-libya-force-majeure","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/04\/20\/oil-prices-rise-on-libya-force-majeure\/","title":{"rendered":"Oil Prices Rise On Libya Force Majeure"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"divBody\">\n<div id=\"ctl00_CPI_dvBody\">\n<p> Oil prices rose on Tuesday after Libya&#8217;s National Oil Corp (NOC) declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities due to a budget dispute with the country&#8217;s central bank. <\/p>\n<p>The dispute hinders the OPEC member&#8217;s ability to fix war-damaged infrastructure and risks derailing a recovery in Libya&#8217;s production.<\/p>\n<p>Brent crude futures for June delivery rose 63 cents, or 0.9 percent, to $67.68 per barrel, after having breached $68, the highest since March 18, earlier in the day. <\/p>\n<p>U.S. West Texas Intermediate (WTI) crude futures were up 56 cents, or 0.9 percent, at $63.99 a barrel. <\/p>\n<p>Arabian Gulf Oil Co (AGOCO), the NOC subsidiary which runs Hariga, said on Sunday it had suspended output because it had not received its budget since September.<\/p>\n<p>A weak U.S. dollar also underpinned prices as investors await supply data from the American Petroleum Institute. Traders expect a drop in U.S. crude oil and distillate stockpiles last week.<\/p>\n<p>OPEC+ is scheduled to meet on April 28 to consider further tweaks to its supply pact. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div><\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Oil Prices Rise On Libya Force Majeure<\/a><br \/>\n<br \/>2021-04-20 10:02:26<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose on Tuesday after Libya&#8217;s National Oil Corp (NOC) declared force majeure on exports from the port of Hariga and said it could extend the measure to other&#8230;<\/p>\n","protected":false},"author":2,"featured_media":8999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-8998","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-us-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/8998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=8998"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/8998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/8999"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=8998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=8998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=8998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}