Oil drops by more than 2% after the resumption of Libyan oil exports

Oil futures in Europe and the United States began the week with losses of more than 2%, less concerned about the changes in supply and after the reopening of terminals in Libya, as well according to the expectations of a greater supply of Russia and other oil producers.

At 8:45 am local time in Mexico City, a barrel of crude Brent for delivery ra in September fell from 2.76% to $ 73.22 on Intercontinental Petroleum Exchange futures contracts (ICE) London

While the barrel of crude WTI in New York for the month of August, down 2.54 percent to 68.17 dollars.

In the market there was concern that Russia and other oil exporters could increase their energy. Russian Minister of Energy, Alexander Novak, said on Friday that the market was penalized by a deficit of 1 million barrels a day (or more).

Sharara oil field production in Libya would drop by at least 160,000 barrels a day (bpd) after the kidnapping of two employees during an attack by an unknown group, announced Saturday the National Oil Corporation (NOC).

In Iraq, two demonstrators were killed Sunday in clashes with security forces in the city of Samawa, amid protests in the south of the country against the quality of public services and corruption.

The demonstrations have not yet affected production in Basra, whose shipments account for more than 95% of the state's Iraqi revenues. But any change could seriously affect the country's economy and boost oil prices.

Investors are also alert to the impact of trade disputes between the United States and its major partners. On Monday, President Donald Trump and his Russian counterpart Vladimir Putin met in Helsinki.

Trump openly expressed his dissatisfaction with rising oil prices and urged OPEC to take steps to reduce them.

With information from Reuters and Notimex.