Brent hits 2-week high above $111, South Sudan supply in focus

Brent crude rose to a two-week high near $112 a barrel on Monday as internal strife in South Sudan threatened the country’s oil output, adding to supply woes in Africa.

South Sudan’s government said on Sunday rebels had seized the capital of a key oil-producing region. Fears grew of an all-out ethnic civil war in the world’s newest country that could cut off its 245,000 barrels per day (bpd) oil output.

This could add to the more than 1 million bpd of lost supply from Libya where key oil ports were shut by a group demanding greater autonomy for the country’s eastern part.