CommoPlast

Oil prices surged on Monday

Oil prices surged on Monday



International benchmarks for oil prices moved higher on Monday (19 September), as Libya might not be able to restore export so soon given deepened unrest. Analysts are commenting that output from Libya would only improve in a sustainable way if the civil war abates. Meanwhile, market is also watching the mixed decision from OPEC ahead of an informal meeting next week.

WTI closed at $43.30/barrel (+$0.27) for October delivery

Brent closed at $45.95/barrel (+$0.22) for November delivery