Oil Prices Jump As Libya’s Largest Oilfield Goes Offline

Oil prices were rising on Thursday afternoon as supply outages continue to pile up in oil markets.This morning, Libya’s Oil Minister Mohamed Oun confirmed to Argus Media that the 70,000 bpd El Feel oilfield had been shut down by protestors. Argus reported that the protestors were angered by the recent arrest of former finance minister Faraj Boumtari in Tripoli. Rumors surfaced on social media this morning that Libya’s giant Sharara field was also shut down, but Libyan news outlet Al-Ahrar tv confirmed that the oilfield continued to…