ISIS attacks on Libya oil tanks fuel supply concerns: DJ

Seven oil tanks are on fire in east Libya after a series of attacks by Islamic State, the country’s National Oil Co. said on Wednesday, according to Dow Jones Newswires. The attacks happened in Libya’s eastern oil ports and have raised concerns about the longer-term damage on the country’s oil industry. The incident follows assaults earlier in the week, which have sparked an appeal for help from the National Oil Co. The company said in a statement on its website that it “condemns, in the strongest terms, the vicious attacks on the oil crescent area over the last two days and deplores the loss of life and the damage caused to tanks at Ras Lanuf and Es Sidar.” Oil prices appeared to shake off the news, with Brent oil falling below $35 a barrel to trade at an 11-year low. Crude oil was down 3.8% at $34.61 a barrel.

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