Libyan rebels strike deal to reopen two key oil ports

Libya is only producing about one-fifth of its Gadhafi-era production but signs of a thaw are emerging and could weigh on Brent prices.

Oil ports of Es Sider and Ras Lanuf, which export about half of Libya’s crude, are held by rebels asking for more autonomy. Now Dow Jones reports that rebels have signed an agreement with the government to reopen the facilities.

Brent is down 72-cents to $111.59 today while WTI crude is down 48-cents to $104.86.