London — Oil prices rose on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports. However, they were under pressure from climbing Opec supply and intensifying US trade conflicts with other major economies. Benchmark Brent crude was up 35c at $75.08 a barrel by 7.20am GMT. US light crude was 35c higher at $68.43 a barrel. Brent, which tends to reflect global supply and demand, was driven up by uncertainty over oil exports by Libya, a member of the Organisation of the Petroleum Exporting Countries. Eastern Libyan commander Khalifa Haftar’s forces have given control of oil ports to a separate National Oil Corporation (NOC) based in the country’s east. The official state-owned oil company from the capital Tripoli, also called NOC, will no longer be allowed to handle that oil, he said. "The move increases the risk that Libyan oil output will be shut in as the NOC in Tripoli is the only legal entity with the right to sell oil," said Sukrit Vijayakar, direct...
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