Oil prices hit 2.5-year high on explosion at major oil pipeline in Libya

by | January 3, 2018 12:12 am



An explosion at an oil pipeline running to the Es Sider terminal in Libya sent oil prices to highs last seen in May 2015, as the incident is expected to cause crude production to decline between 70,000 b/d and 100,000 b/d. Oil futures were rallying on the news. ICE February Brent was $1.57 higher at…

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