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Oil Laugh Amid the flare-up of Libya

JAVAFX – On trade on the commodity exchange on Monday (20/1), crude oil Prices diperdagngkan rose middle of the back of simmering tensions Libya and the closure of oil production facilities in the southwestern part of the country so the culprit of surging crude oil prices.

on Monday (20/1) crude oil prices traded up more than one percent compared to the closing position last week. The price of Brent crude rose 1.11% and closed at $65,58/barrel for Brent and WTI crude oil (West Texas Intermediate).$58,19/barrel.

the Trigger of the rise in oil prices this is the back of simmering tensions in Libya. Since the degredation of Muammar Qaddafi in 2011, Libya is beset by a crisis. Now, Libya was divided into two namely the stronghold of the Government of National Accord (GNA) led by Prime Minister Fayez al-Saraj and the Libyan National Amy (LNA) pimpinanJenderal Khalifa Haftar. GNA is a government supported and recognized the united nations.

Since April, the LNA continuously launch an attack to the capital city of Tripoli. LNA want to besieged and took the capital cities controlled by the GNA. Current LNA itself controlled most of the eastern region of Libya.

Haftar out of the SUMMIT of the Turkish-Russian last week and the conflict tereskalasi after Haftar ordered to shut down Libya's oil fields. It is confirmed directly by the national oil company of Libya.

On Sunday, the national oil company of Libya said that the two major oil fields in the southwestern part of the El Sahara and El Feel was closed after forces loyal to Haftar block the oil ducts that are there. The closing of this oil will cause the oil production of Libya into 72.000 barrels per day (bpd) from the earlier as much as 1.2 million bpd, unless the barrier is raised. The interrupted supply make oil prices bolted in today's trading.

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Jack Johnson
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