Oil Climbs Back Above $102 as Markets Watch Possible US–Iran Talks

Libya Adds Another Supply Risk

Elsewhere, the market is also watching developments in Libya.

An armed group closed a valve on the pipeline connecting the Sharara oilfield to Zawiya port, according to Libya's National Oil Corporation.

Production at Sharara reportedly dropped by about 200,000 barrels per day, leaving output at approximately 100,000 to 105,000 barrels per day, according to engineers cited by Reuters.

The disruption adds another layer of uncertainty to a global oil market already responding to geopolitical developments, changing shipping routes, and supply concerns.

...[ Continue to next page ] By: Kriti Vaid