Pompeo sees progress towards ceasefire in Libya at Berlin summit - Reuters

US Secretary of State, Mike Pompeo said on Sunday that progress had been made at a peace summit in Germany towards reaching a full-fledged ceasefire in Libya's war.

Pompeo said he sees progress was made in Berlin towards full-fledged ceasefire in Libya and hopes blocked Libyan oil facilities will reopen as result of Berlin summit.

Reuters also reports that he told reporters he hoped Libyan oil facilities, blocked by factions loyal to commander Khalifa Haftar, will reopen as a result of the summit.

Additional reading

• The conflict in Libya will be a focus for oil traders this week

Market implications

The news should help to keep a lid on the price of il that may have otherwise opened heavily bid later today.