Crude prices trim gains after shipping resumed from a Libyan port

Crude prices trimmed their gains in American gains due to renewed worries over the global glut, specially as analysts expect more exports from Nigeria and Libya, with the futures sliding back after an oil container returned to Libya's Ras Nof port for shipping. 

As of 19:15 GMT, Brent November futures traded at $46.00 a barre, still up from the opening of $45.95, but away from a session-high at $46.90, with a low at $45.88. 

Brent November futures closed down 0.9% on Friday, hitting a two-week low at $45.48 as commodities suffered in general due to the rising dollar, while oil was affected by rising oil rigs in the U.s. for the third week in a row. 

Official sources from Libya said the oil contained returned to the port today after sailing away yesterday, to continue loading 781 thousand barrels for Italy, as the first load was disrupted by fighting between the oil ports guards and the troops loyal to Khalifa Hafter. 

Oil prices rose opened this week higher after Venezuelan president Nicholas Maduro's bullish comments and the return of fighting in Libya. 

Maduro said today in a press conference that he talked with his counterparts in Iran and Ecuador, asserting there will be a deal soon by OPEC to reach balance in the markets by the end of the month. 

The Algerian official news agency reported that Mohammad Barkindo, OPEC's general secretary, said that Algeria's meeting is for conferring and not to make decisions, asserting that the organization is calling for an emergency meeting if a deal is reached in the next unofficial meeting next week.