Oil hits $68 on Libya force majeure, although pandemic surge weighs

London: Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by a disruption to Libyan exports and expectations of a drop in U.S. crude inventories, although rising coronavirus cases in Asia limited gains.

Libya declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities. U.S. crude stockpiles are expected to drop by 2.9 million barrels in weekly reports.