Oil news and market movers: Libya back on the table
- Bloomberg reports that the sudden supply disruption from Libya could result in a shortage of 1 million barrels a day, according to consultants Rapidan Energy Group. That would account for roughly 1% of global supply.
- Indonesia’s state-owned Pertamina is trying to buy Russian Oil for November delivery to Cilacap, Balikpapan and Balongan. The total amount would be around 5 million barrels, Reuters reports.
- The Greek-flagged crude Oil tanker Sounion is still burning and might be leaking oil in the Red Sea. Yemen’s Houthi rebels have agreed to allow tugboats and rescue ships to reach the damaged tanker, CNBC reports.
- Near 17:00 GMT, the weekly Baker Hughes US Oil Rig Count will be released. The previous release was a steady 483.
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