January 6, 2014 8:03 PM

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Brent crude oil futures cross USD 107 per barrel

Brent crude oil futures rose more than one dollar, to cross 107 dollars a barrel, today, rebounding after its biggest weekly fall in six months on news of the restart of a key Libyan oilfield. Crude supply from Libya is set to more than double after production at the El Sharara field resumed over the weekend as protesters ended a two-month blockade. But doubts over the scale and pace of Libyan oil production increases helped oil futures markets recover some ground.So Brent crude futures for February climbed 1.07 dollars to a high of 107.96 dollars a barrel. US crude gained 50 cents, to 94.46 dollars a barrel. The contract had lost 1.48 dollars a barrel on Friday and posted its biggest weekly drop since June 2012

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