West TX Oil Above $60 as Libya Output Slows

Oil prices closed at 2015 highs on Tuesday after protests stopped crude flows to the eastern Libyan oil port of Zueitina, hampering exports.

U.S. crude oil closed up up $1.47, or 2.49 percent, at $60.40 a barrel. That was its highest settle since December 10. Brent crude oil climbed to a high of $68.40 a barrel its highest since December. The contract last traded at $67.50, up $1.05.

Oil was also supported by news that Saudi Arabia had raised its official selling prices for its Arab Light grade crude to the United States and Northwest Europe, pointing to strong demand in those regions.

CNBC

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