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Among those on the books the just completed industrial water plant for Tripoli West power station.
Saudi Crown Prince Mohammed bin Salman moved to shore up his power base with the arrest of royals, ministers and investors, including billionaire Alwaleed bin Talal and the powerful head of the National Guard, Prince Miteb bin Abdullah.Brent crude futures LCOc1 were down 5 cents at $64.22.On Monday, they closed 3.5 percent higher, also their biggest percentage gain in about six weeks.There would be two further payments totalling $500 million made next year to complete the repayment, he added.He did not say, however, if the payment was made to the Central Bank of Libya in Tripoli or to the parallel institution in Benghazi. It was made by Ali Zeidan to Egypt’s Muslim Brotherhood (MB) government headed by the the subsequently overthrown president, Mohamed Morsi, and was seen as having been engineered by the MB in Libya acting in the interests of the movement in Egypt.This is largely due to an ongoing effort lead by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to withhold supplies in order to prop up prices.
With crude still more than 40 percent up since June, oil-consuming industries that benefited from comparatively low prices are now starting to feel the pinch.
In what was seen as a move to counter the criticism, Zeidan himself said at the time that the $2 billion was “not a loan but an investment”, while Central Bank of Libya governor Sadek Elkaber described it as “ a deposit”.
Through its MB connections, the Morsi government also secured a $1-billion loan from Turkey a few months earlier.
“Lebanese Prime Minister Saad Hariri’s resignation and a missile launch by pro-Iran Yemeni Houthis on Riyadh increase the risk of a regional conflict,” political risk consultancy Eurasia Group said.
The resignation on Saturday of the Saudi-allied Lebanese prime minister Saad al-Hariri, announced from Riyadh and blamed on Iran and Hezbollah, is seen by many as the first step in an unprecedented Saudi intervention in Lebanese politics.
Traders said the market was eyeing growing tensions in the Middle East with concern, keeping a cautious tone on trade. West Texas Intermediate (WTI) crude CLc1 was at $56.99 per barrel, down 21 cents, or 0.4 percent, from their last settlement, but also still not far off the $57.69 a barrel reached earlier this week - the highest since July 2015.