Oil prices rose in early trading on Monday, supported by expectations of a supply deficit resulting from peak fuel consumption in the summer and OPEC+ cuts in the third quarter, but adverse economic trends and increased production from outside the OPEC+ group limited the Gains. Brent crude futures rose 16 cents, or 0.2%, to $85.16 per barrel by 00:32 GMT, and US West Texas Intermediate crude futures rose 17 cents, or 0.2%, to $81.71 per barrel. The two crude oil prices rose about 6% in June, as the price of Brent at settlement reached more than $85 a barrel in the past two weeks after the OPEC+ group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, significantly extended most of its oil production cuts until 2017. 2025. In light of this, analysts expected a supply shortage in the third quarter, as demand for transportation and air conditioning equipment during the summer leads to a decrease in fuel stocks. Source: National Iraqi News Agency
EU Delegation and Member States Welcome Progress in Libya’s Political Process
August 30, 2026
Tripoli: The Delegation of the European Union and the Diplomatic Missions of the EU Member States to Libya have expressed their approval following the announcement of an agreement by Libyan representatives. The agreement, facilitated by the United Nat…