The announcement on Monday of a force majeure in Libya was enough in the tumultuous world of crude trading to cause oil prices to rise to their highest level in over a week – although it’s unclear how long the gains will be sustained. Brent settled up 35 cents at $65.20 per barrel, having earlier touched $66 per barrel (its highest since January 9), while West Texas Intermediate settled up 12 cents at $58.66 per barrel, after rising to $59.73 (the highest since January 10). The gains came on the heels of the National Oil Corporation stating that on Sunday two major oilfields in southwest Libya began shutting down after forces loyal to Khalifa Haftar closed a pipeline, potentially cutting national output to a fraction of its normal level. NOC declared force majeure on crude loadings from the Sharara and El Fee l oilfields, and it is said the […]