Oil extended a weekly decline as Libya restarted a crude pipeline halted by a fire and the U.S. idled fewer drilling rigs than in previous weeks. West Texas Intermediate lost as much as 1.4 percent after falling 4.6 percent last week. Oil fields in eastern Libya resumed pumping to the port of Hariga after a pipeline was repaired, according to state-run National Oil Corp. The number of rigs targeting oil in the U.S. shrank by 37 to 1,019 last week, the fewest in service since July 2011, data from Baker Hughes Inc. showed on Friday. It was the smallest cut in seven weeks. “There is still an imbalance between supply and demand,” Jean Medecin a London-based member of the investment committee at Carmignac Gestion SA, […]