Oil tops $113 a barrel as Libya adds to global supply concerns   

Libyan developments offset concern about demand in China

Tanker Myrtos leaves the harbour after discharging her cargo of crude oil at Whitegate Oil Refinery, Cork. Analysts have warned that with tight global oil supplies, 'even the most minor disruption is likely to have an outsized impact on prices'. Picture: David Creedon

Global oil prices rose in choppy trade, with Brent crude topping $113 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand.

Adding to supply pressures from sanctions on Russia, Libya's National Oil Corp warned "a painful wave of closures" had begun hitting its facilities and declared force majeure at Al-Sharara oilfield and other sites.