Libya reaps oil bonanza from Iran war price surge
Crude output has risen to highest level since 2013 as demand soars to replace lost barrels from the Gulf
Crude output has risen to highest level since 2013 as demand soars to replace lost barrels from the Gulf

Brent crude rises for eighth consecutive day

Soaring fuel prices and access to cheap North American crude oil put American refiners in pole position

Brent crude at highest level in three weeks

Prices for Brent crude climb 3 per cent during early trading in Asia

Crude had stabilised on optimism that a deal could be reached to reopen the Strait of Hormuz

While there are buffers of supply, spare capacity will come under pressure in the event of any further escalation