World Oil Prices Rise As Libyan Civil War Shuts Down Two Major Oilfields

CNBC: Oil climbs above $65 after an escalation in Libya's civil war forces the shutdown of 2 major oilfields

* Oil climbed on Monday as the civil war in Libya forced two of the nation's largest oilfields to begin shutting down.
* Commander Khalifa Haftar's forces closed a pipeline connecting Libya's largest oilfield and another major production base.
* That has led both to start turning off the taps.
* Brent crude rose about 1.1% before retreating to hover at about $65.11. It reached the highest price since January 9.
* "The global oil market just isn't as exposed to shocks as it once was."

Oil climbed on Monday as the civil war in Libya forced two of the nation's largest oilfields to begin shutting down. The closures come after key Libyan oil ports were blocked over the weekend, threatening oil exports.

West Texas Intermediate crude rose 1% to $59.10, before slipping to about $58.70. Brent crude rose about 1.1% before retreating to hover at about $65.11. It reached the highest price since January 9.

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More News On The Shut Down Of Libya's Major Oil Fields

Oil rises as Libyan oilfields shut down -- Reuters
Libyan Oil Output Collapses as Group Shuts Export Pipeline -- Wall Street Journal
Oil prices jump as Libyan pipeline shutdown cripples output -- Al Jazeera