Libya Financial News

By Robert Harvey

Also Read: ‘Oil markets well supplied’, says IEA as it raises 2024 global demand forecast; projects lower than OPEC The premium of the first-month Brent contract to the six-month contract rose to as much as $2.15 a barrel on Friday, the highest since November. This structure, called backwardation, indicates a perception of tighter supply for prompt delivery. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a February 16 expiry, settled 0.28 per cent higher at ₹6,045 per bbl, having swung between ₹6,084 and ₹6,213 per bbl during the session, against a previous close of ₹6,106 per barrel.

oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S.

Baidu on Monday refuted a newspaper report that said its artificial intelligence chatbot Ernie was linked to Chinese military research. Hong Kong newspaper South China Morning Post on Friday cited an academic paper from a university affiliated with the People's Liberation Army cyberwarfare division. The paper stated that the division had tested its artificial intelligence system on Baidu's Ernie and on artificial intelligence firm iFlyTek's Spark, both of which are language-based AI chatbots similar to ChatGPT.

By Natalie Grover

Investing.com-- Oil prices advanced in Asian trade on Wednesday, extending a recent rebound as signs of supply disruptions in the Middle East persisted, while industry data pointed to another week of sharp builds in U.S. product inventories.

Oil and natural gas prices have started rising as traders bet on the continuation of Houthi attacks disrupting shipping in the Red Sea. The Yemen-based rebel formation, backed by Iran, has been attacking shipping along this critical region with suicide drones, missiles and rockets since the Gaza War. This is part of a strategy to impose a naval blockade of Israel, since the Houthis are allies of Hamas due to their strong connections with Iran.

Stocks and bonds steadied after a bruising two-day selloff to start 2024. Oil advanced as conflict in the Middle East added to supply concerns.

Oil steadied on Thursday, largely unwinding an earlier rally, as concerns over Middle Eastern supply and disruptions at an oilfield in Libya were countered by concern about economic growth and demand. Local protests forced a production shutdown on Wednesday at Libya's Sharara oilfield, which can produce up to 300,000 barrels per day (bpd). The field, one of Libya's largest, has been a frequent target for political protests. Brent crude fell 30 cents, or 0.4%, to $77.95 a barrel by 1450 GMT, after earlier rising over $1.

Stocks and bonds steadied after a bruising two-day selloff to start 2024. Oil advanced as conflict in the Middle East added to supply concerns.

By Andrew Hayley and Jeslyn Lerh

Investing.com-- Oil prices rose slightly in Asian trade on Thursday, extending strong gains from the prior session as the shutdown of Libya’s biggest oilfield fueled more concerns over tight supplies.

natural disasters that left a profound impact. From the powerful Hurricane Otis striking Mexico's coast to China grappling with unrelenting monsoons and Libya facing overwhelming floods, the year unfolded with immense challenges. Turkey-Syria Earthquake: On February 6, southern Turkey had a big earthquake, measuring 7.8.

we win, you know what's gonna happen. People are gonna flood out of the country. They're gonna flood out before we even do anything," Trump said.

Libya and Tunisia are principal departure points for migrants risking dangerous sea voyages in hopes of reaching Europe, via Italy. More than 153,000 migrants arrived in Italy this year from Tunisia and Libya, according to the United Nations refugee agency. Italy's far-right Prime Minister Giorgia Meloni won elections last year after vowing to stop illegal migration.

The Middle East plays host to its second straight U.N. climate conference over the next two weeks, with countries hoping to agree on new ways to keep the planet from catastrophic heating by the end of the century

global warming. This year has once again seen the devastating effects of climate change on the planet. The summer season in the northern hemisphere was the warmest on record globally. More than 11,000 people were killed in the Mediterranean storm Daniel in Libya in September, while a wildfire on the Hawaiian island Maui killed at least 115 people. What is COP28? It’s the annual gathering of nearly 200 countries, hosted by the United Nations, to discuss ways to prevent further manmade climate change and adapt to warming temperatures.

A fund to compensate developing nations for the impacts of climate change was the supposed big breakthrough at last year's United Nations-led climate talks in Egypt

David Cameron sensationally returned to the British government as foreign secretary on Monday, as Prime Minister Rishi Sunak shook up his top team with a general election looming next year. Cameron's comeback from the political wilderness came as Sunak sacked right-wing firebrand Suella Braverman as interior minister to assert his authority over the Conservative party, which trail the Labour opposition in polls. James Cleverly moved from the foreign ministry to succeed Braverman after critics accused her of heightening tensions during weeks of contentious pro-Palestinian demonstrations and counter-protests. Cameron quit as prime minister in 2016 after losing the Brexit referendum, standing down as an MP that year, before later becoming mired in a lobbying scandal that was seen as tarnishing his reputation. The former leader, whose foreign policy record as prime minister is viewed as chequered at best, said he «gladly accepted» his new role as Britain faced «a daunting set of international challenges». «While I have been out of front-line politics for the last seven years, I hope that my experience — as Conservative leader for 11 years and prime minister for six — will assist me in helping the prime minister to meet these vital challenges,» Cameron added, citing the Israel-Hamas war and Russia's conflict in Ukraine. Cameron will be made a life peer in the House of Lords — Britain's unelected upper chamber of parliament — Downing Street announced, making him eligible to sit in government. The last lord as foreign secretary was Peter Carrington, who quit Margaret Thatcher's government after Argentina invaded the Falkland Islands in 1982. Cameron was instrumental in leading western countries' intervention in Libya in

According to its forecasts, its baseline case is for oil prices are expected to average $90 a barrel in the current quarter before declining to an average of $81 a barrel next year as global economic growth slows.

Donald Trump pledged to restore the “travel ban" that targeted seven Muslim-majority countries, if he is re-elected to the White House next year. “You remember the travel ban? On day one I will restore our travel ban," Donald Trump said on October 28, while addressing a Republican Jewish Convention in Las Vegas. Donald Trump was referring to the 2017 order issued by his administration, that imposed a blanket ban on the entry of travellers from Iran, Libya, Somalia, Syria, Yemen, Iraq and Sudan.