U.S. Markets close in 29 mins

Libya’s Supply Outage Impacts Crude Oil Prices

Gordon Kristopher
Libya’s Supply Outage Impacts Crude Oil Prices

NOC (National Oil Corporation) is Libya’s state-owned oil company. On June 17, NOC said that militants attacked storage tanks at two key export terminals in Libya. The attack caused a decline in the crude oil storage capacity at the Ras Lanuf port by 400,000 barrels. Militant attacks started on June 14 at the Ras Lanuf and Es Sider oil ports.