WTI jumps above $53 as seizure in Libya threatens output

Crude oil prices have accelerated the upside on news from Libya, lifting West Texas Intermediate above $53. 

Libya's biggest oil port seized by an armed group (via Bloomberg)

• Benghazi Defense Brigades, a militia that’s not allied to the United Nations-backed government in Tripoli, took control of the Es Sider terminal on Friday afternoon
• Oil prices jump as seizure threatens to choke output revival
• Brent crude futures climbed as high as $55.86
• Libya's oil production was about 700,000 bpd in February