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Friday, 16 September 2016

Oil falls to two-week low as Nigeria, Libya poised to swell glut | GulfNews.com

Oil falls to two-week low as Nigeria, Libya poised to swell glut | GulfNews.com:

"World oil prices fell Friday as the prospects of higher output from Libya and Nigeria further fuelled oversupply concerns, cutting short a nascent rebound.
 
Both contracts rose Thursday on news that 6,000 barrels of gasoline had leaked from the Colonial pipeline that carries fuel from the Gulf Coast to the eastern United States.
 
The leak, however, was not enough to overshadow expectations that Libya and Nigeria are due to ramp up production."



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