A Libyan oil company announced that blazes at oil storage tanks at a depot in eastern Libya have been safely extinguished following mid-June militant attacks. Anti-government forces loyal to militia leader Ibrahim Jadhran stormed oil infrastructure at the Sidra and Ras Lanuf terminals earlier this month. Two storage tanks at Ras Lanuf were left ablaze and the fires had threatened nearby infrastructure. The Libyan National Oil Corp. said the damage was “catastrophic.” Workers were evacuated from both terminals and the company declared force majeure on exports. Force majeure is a contractual condition related to circumstances beyond the control of the parties involved. Libyan oil storage capacity declined from 950,000 barrels to 550,000 barrels as a result of the damage. […]