Tuesday 12 April 2011

Private trading houses resume Libya oil deals | Reuters

Libyan oil trade is picking up after weeks of paralysis despite civil war, trade sources told Reuters, saying political support from the West for Libyan rebels was enabling deals.

The resumption of exports could provide a vital lifeline to Libyan rebels amid heavy fighting with forces loyal to Muammar Gaddafi, the sources said, adding private trading houses would dominate risky deals for the foreseeable future.

"The transactions are certainly being encouraged on the political side," a source close to the process said.

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