Commodities round-up: Crude oil prices continue to gain as Libya outages add to Russia supply fears

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Gains continue in crude oil prices and it is trading positive yet again and with nearly 9 percent of gains in the previous week.

However, a couple of new factors in the market. One is that Libya is forced to halt operations that a couple of places like El Feel oilfield and Zueitina oil port because of the protest there. So the Libya production going out is adding a premium to prices.

Second, Chinese manufacturers reopening factories and demand is coming back.

Also, the latest reports from Interfax shows that the Russian production has declined by 7.5 percent for the month of March and could be going down further for the month of April. All factors are positive and that is the reason support is continuing here.