Oil prices settle up 3% on supply concerns after oilfield shutdown in Libya

NEW YORK, Jan 3 (Reuters) – Oil prices climbed on Wednesday, settling up about 3% after a disruption at Libya’s top oilfield added to fears that mounting tensions in the Middle East could disrupt global oil supplies.

Brent <LCOc1> futures rose $2.36, or 3.1%, to settle at $78.25 a barrel. U.S. West Texas Intermediate (WTI) crude rose $2.32, or 3.3%, to settle at $72.70.

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