Brent crude oil rallied to the intraday high of close to 120 dollars per barrel on Thursday in the morning as the main part of the Libyan oil production (about 1.0 mb/d out of 1.6 mb/d) appeared to have ground to a halt and a potentially extended state of civil war appeared more likely than a quick resolution to the conflict. This was probably about as high as Libya alone can push oil prices, says SEB's experts in Friday's crude oil comment.