Brent extended its first weekly gain this month amid speculation escalating violence in will further disrupt supplies from the holder of Africa ’s biggest oil reserves. West Texas Intermediate also rose in New York . Futures climbed as much as 0.5 percent in London . Libya accused a retired army general in the eastern city of Benghazi of planning a coup while the nation’s General Assembly in Tripoli was said to be suspended after it was stormed by a militia. Libyan crude production is down about 80 percent from a year ago, data compiled by Bloomberg show. “A restart from Libya is needed to balance the global supply-demand in the third quarter and for now that is still not coming,” Olivier Jakob , managing director at Petromatrix GmbH in Zug, Switzerland , said by e-mail. Recent efforts to restore Libyan production didn’t last long, so the country was already […]