text: US Companies Stops Libyan Oil Trade Due to Sanctions | Newsmax.com
  Tags: US Companies Stops Libyan Oil Trade Due to Sanctions
  US Companies Stops Libyan Oil Trade Due to Sanctions
  Monday, 07 March 2011 02:07 PM
  Around half of Libya's oil output, or over 1 percent of global supply, has already been choked off by lethal clashes between rebels and forces loyal to Libyan leader Muammar Gaddafi.. Oil prices hit their highest levels since September 2008 on Monday.
  "We are in full compliance with U.S. sanctions", a Conoco spokesman said.
  Major U.S. oil companies have halted trade with Libya and big banks have started to pull back from funding such deals because of U.S. sanctions, in moves that will further disrupt oil flows from the torn country. Around half of Libya's oil output, or over 1 percent of...