MTECHTIPS-Oil rose toward $56 a barrel on Monday, supported by another shutdown at Libya’s largest oilfield over the weekend and geopolitical tensions following last week’s U.S. missile strike on Syria. Libya’s Sharara oilfield was shut on Sunday after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April. We expect crude oil prices to trade negative on the back of profit booking after an up-move.
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