Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle.
Brent crude was up 41 cents, or 0.6 per cent, at $65.26, having earlier touched $66 a barrel, the highest since January 9.
The West Texas Intermediate was up 27 cents, or 0.5 per cent, at $58.81 a barrel, after rising to $59.73, the highest since January 10.
The EU’s top diplomat Josep Borrell said on Monday the European Union will discuss all ways to uphold a formal ceasefire in Libya but any peace settlement would need real EU support to make it hold.
