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Oil climbs towards $61 on Middle East supply concerns

Mar 06, 2015    

LONDON (Reuters) - Brent crude oil rose towards $61 a barrel on Friday as fighting in Libya and Iraq stoked output worries, while traders kept a close eye on Iran nuclear talks that could eventually bring more supply to world markets.Fighting has escalated in northeast Iraq, where Islamic State militants have set fire to oilfields to deter Shi'ite militiamen and Iraqi soldiers from advancing. In Libya, worsening security has led to the closure of 11 oilfields.Gains were pared slightly by a rise in the dollar, which jumped after U.S. jobs data boosted expectations of a sooner-than-expected rate...

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