Oil storage containers are seen, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, Calif., on April 7, 2021. (Lucy Nicholson/Reuters)Oil Prices Edge up on Kazakhstan, Libyan Supply WorriesLONDON—Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. “The tailwind lent to oil prices by supply concerns should therefore abate, which suggests that prices will fall this week,” Commerzbank analyst Carsten Fritsch said. A surge in COVID-19 infections, however, put pressure on oil prices. Meanwhile, if Russia invades Ukraine, it could disrupt Russian crude exports to Europe and push oil prices higher, RBC Capital analysts said in a note.

Source: Libya Today January 10, 2022 11:56 UTC