Oil prices rise after Libya oilfield shuts down

NEW YORK-- Oil prices settled higher on Monday after a shutdown at one of Libya's major oilfields over the weekend.

The West Texas Intermediate for May Delivery added 0.84 dollars to settle at 53.08 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery gained 0.74 dollars to close at 55.98 dollars a barrel on the London ICE Futures Exchange.

Source: Philippines News Agency

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