Oil rallied above $100 after the Saudis declined to make any promises regarding future output increases, while a weaker dollar also helped put wider commod.
Oil rallied above $100 after the Saudis declined to make any promises regarding future output increases, while a weaker dollar also helped put wider commod.
Tribal groups have agreed to end a blockade of Libya's oil production facilities after Tripoli installed a new leader at the National Oil Company (NOC). The move comes amid high global demand for oil.
As U.S. President Joe Biden prepares to visit the Persian Gulf to get more oil onto global markets, political turmoil in another part of OPEC threatens to further undermine the cartel’s production.