Oil Jumps After Unrest Hits Key OPEC Producers Libya and Iraq

(Bloomberg) — Oil jumped as rising tension in the Middle East and North Africa halted output and exports from key OPEC producers Iraq and Libya.Futures in New York and London rose more than 1.5%. Iraq temporarily stopped output at an oil field on Sunday and supply from a second site is at risk as widespread unrest escalates in OPEC’s second-biggest producer. In Libya, National Oil Corp. declared force majeure after Commander Khalifa Haftar blocked exports at ports under his control.While political unrest has simmered in Libya as competing forces tussle for control of the country, the spotlight is back on …read more

Source:: Yahoo Finance