Summary World oil prices rose slightly Monday on supply concerns in Libya and Nigeria.
NEW YORK (AFP) - World oil prices rose slightly Monday on supply concerns in Libya and Nigeria, and after OPEC member Venezuela indicated a deal to limit output was close.
In New York trade, US benchmark West Texas Intermediate for October added 27 cents over Friday s close to $43.30 a barrel.
In London, Brent North Sea crude for delivery in November won 22 cents to reach $45.95 a barrel.
Libya s effort to sharply boost exports was in question again after fighters loyal to the UN-backed unity government were repelled Sunday in their attempt to retake control of eastern oil ports from rival forces.
The fighting led a Maltese-flagged tanker to turn back out to sea for safety, abandoning plans to load crude oil at Ras Lanuf. It would have been the port s first export since 2014.
But the market was encouraged after Venezuelan President Nicholas Maduro said Sunday that participants in coming producer talks by the 14-nation OPEC cartel and Russia are working on a deal.
"Maduro said on Sunday that OPEC and non-OPEC countries were close to reaching an agreement to stabilize the price, and these comments have led traders to speculate that we could see a production freeze announced next week," David Cheetham of brokerage XTB said.
"Given the number of false starts on the OPEC rumor mill, the Venezuelan president s comments should be taken with a grain or two of salt," CMC Markets analyst Jasper Lawler said.
"But in combination with two of Libya s ports used for oil exports falling under militia control, the supply picture looks cloudy enough to warrant some bullishness after a down-week."
Intensifying concerns over Nigeria, Africa s biggest crude exporter, added to the supply backdrop on Monday.
A militant group on Monday claimed an attack on a crude oil pipeline in southern Delta state, the second on the same line in less than a week.
