November 5, 2013 6:38 PM

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Brent holds near 4-month low on Libya supply concerns<br/>

Brent crude oil futures today steadied near a four-month low touched, yesterday, on worries over a prolonged period of reduced exports from Libya. So Brent crude rose 24 cents, at 106.47 dollars a barrel, after hitting a four-month low of 105.13 dollars a barrel, overnight. U.S. oil fell 3 cents, at 94.59 dollars a barrel, having also slumped to a four-month low in yesterday&apos;s session.Expectations for rising crude stockpiles in the United States have put downward pressure on prices, particularly for the U.S. benchmark, but the ongoing delivery outages in Libya are preventing prices from falling. Recent protests and strikes at ports and oilfields had already knocked Libyan crude production down to some 10 percent of its capacity of 1.25 million barrels a day. Investors are looking for important data from the US, later this week, including GDP and employment, to offer a clearer view of the outlook for demand in the world&apos;s biggest oil consumer.

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