PT Solid Gold Berjangka | Oil Steadies After Surging Monday on Threat to Libyan Supply
OIL SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB
Solid Gold Berjangka | Oil steadied in Asian trading after jumping more than 3% on Monday as Libya’s eastern government said it would halt exports.
West Texas Intermediate was near $77 a barrel after surging almost 8% over the previous three sessions, while Brent closed above $81. Libya’s eastern government declared force majeure on all oil fields, terminals and facilities, as it struggles with its Tripoli-based rival for control of the OPEC member’s central bank and oil riches.
The threat to supply from the North African nation followed an exchange of fire between Israel and Hezbollah in Lebanon over the weekend. While both parties said that they had concluded military operations for now, the market is still watching for any signs of further fallout from the 11-month old war in Gaza.
WTI for October delivery fell 0.3% to $77.16 a barrel at 7:31 a.m. in Singapore.
Brent for October settlement closed 3.1% higher at $81.43 a barrel.
Source : Bloomberg