Crude oil prices are trading lower this Monday, as a supply restoration from Libya capped prices on a day of thin trading. Libya’s production was temporarily shuttered after pipeline repairs and an oilfield closure. Weaker output from Libya and a rise in demand had driven crude oil prices near 8-year highs following four consecutive weekly gains. The crude oil market would look to this week’s monthly market outlook reports from the International Energy Agency (IEA) and the Organization of Petroleum Exporting Countries (OPEC) for further direction in price. Both reports’ demand and supply forecasts are part of the ... (full story)