Oil rose towards $56 a barrel on Monday, supported by another shutdown at Libya's largest oilfield, tension over Syria following the U.S. missile strike and signs that an OPEC-led supply cut is helping to clear excess supplies.
Oil prices rose on Tuesday as expectations of a drawdown in U.S. crude and product inventories outweighed news of higher Libyan production.
There’s a reason oil is known as “black gold.” While it had stayed mostly in the $90 range since Jan. 1, it has recently gushed over $100 a barrel