Brent fell to its lowest intraday level in two months following the first increase since March in oil supply from Libya, holder of Africa’s biggest reserves.
Brent slipped for a third day in London to its weakest since Nov. 12. Libya tripled output to about 650,000 barrels a day in the three weeks to Jan. 13 after talks with protesters enabled the restart of Sharara, its second-biggest field, earlier this month, according to the government. West Texas Intermediate advanced for a second day on forecasts that U.S. crude stockpiles declined for a seventh week.
via Bloomberg
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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