Libyan Commander Disloyal to the UN Seizes Two Important Oil Ports

Just as the price of crude began to swoon, out comes a fucking insane Libyan commander seizing control of two important oil ports–totally hating on the US led UN power apparatus currently not running things.

Forces loyal to east Libyan commander Khalifa Haftar on Sunday seized at least two key oil ports from a rival force loyal to the U.N.-backed government, risking a new conflict over the OPEC nation’s resources.

Ahmed al-Mismari, a spokesman for Haftar’s self-styled Libyan National Army (LNA), said its fighters had full control of Es Sider, Ras Lanuf, Brega and Zueitina after launching an early morning military operation on the eve of the Muslim holiday of Eid.

The attacks on Libya’s major oil ports by Haftar, who opposes the U.N.-backed Government of National Accord (GNA), could derail efforts to restart production. Those efforts are seen as critical to saving Libya’s economy and helping the GNA survive.

Ever since we fomented civil war in Libya, oil production has plunged from 1.6m bps to just 200k.

Thus far, this isn’t having much of an effect on crude prices, currently down 1.2% for the session.