Categories: Business

Oil Updates — Crude prices rise on US supply concerns; Libyan oil production at 1.2m bpd


Tue, 2022-12-13 09:01

RIYADH: Oil prices rose for a second day on Tuesday as a key pipeline supplying the US, the world’s biggest crude consumer, remained shut and on expectations loosening COVID restrictions in China, the second-biggest user globally, will boost demand. 

Brent crude futures rose $1.03, or 1.32 percent, to $79.02 per barrel by 08.10 a.m. Saudi time, while US West Texas Intermediate crude futures gained 96 cents, or 1.31 percent, to $74.31. 

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