Libya’s halting oil production sending price higher

FXstreet.com (Chicago) – Oil contracts trade stronger on apparent repercussions of Libya’s news and uncertainty. With closed oil ports and unknown foreseen solutions to the conflict between rebels and the government, the contract retakes the $97 zone extending this month’s rally.

Offered at $97.45, a total daily gain of 0.88% is consolidated ahead of Wall Street’s closing. Printing lows at $96.21 and highs at $97.69, market participants also remain expectant of what may happen in the US later this week when the Fed announces its monetary policy and the FOMC publishes its economic analysis.