September 5, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Global crude oil prices in early Wednesday were trading below the $75-per-barrel mark amid indications that warring factions in Libya have resolved their differences, while traders are betting that the Organization of the Petroleum Exporting Countries (OPEC) will relax its restraints on production.

Crude oil started a trading week shortened by the long Labor Day weekend in the U.S. in the black, on word that Libya declared force majeure on some of its production.