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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Rises as Libya Outage Adds to Supply Woes

Libya Stephen Innes Shanghai United States

A oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann/File Photo

Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a COVID-19 shutdown, easing some demand worries.

Brent crude futures rose 61 cents, or 0.5%, to $113.77 a barrel at 0349 GMT, while US West Texas Intermediate (WTI) crude futures gained 33 cents, or 0.3%, to $108.54 a barrel.

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