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Oil prices climb pending US government report

Crude oil prices rose in late trading in New York Aug. 13 upon expectations that weekly US government inventory reports would show crude oil inventories at a 7-month low.

On the world oil market, Brent crude also rose on reports of supply disruptions from Nigeria, Libya, and Iraq.

Production from Ekofish complex in the Norwegian North Sea was down slightly because of a gas compressor at Ula field is being replaced. BP PLC told reporters the maintenance work was expected to continue until about Sept. 15.

Libya’s biggest crude export terminals were down Aug. 13 because of striking security guards. Although officials said exports could resume quickly, security guards had yet to reach an agreement to end the strike.

8/15/2013
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