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Libyan port deal puts pressure on crude prices

Tensions in Libya and the Middle East along with Russia and Ukraine boosted prices at the start of the month

Crude prices fell in mid-April as a possible restart of Libyan crude supply to markets helped to balance gains from tensions between Russia and Ukraine.  Brent and WTI prices were trading around $109.70 per barrel (/b) and $103/b respectively on 22 April. Supply outages in Libya and northern Iraq, as well as market anxiety over tensions between Russia and Ukraine, boosted prices at the beginning of April, countering seasonally weaker demand and reduced refinery throughputs. Brent prices increased to a near six-week high in mid-April, to around $110/b, after the US and EU agreed to expand economic sanctions against Russia over Ukraine. However, these gains were tempered when, on 6 April, Liby

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