Oil prices are rising on Tuesday due to growing concern about potential deficit of supply, Reuters informs. Hundreds of workers from Norwegian oil sector are planning to have a strike today.

Price of Brent oil increased by 0,4% to $78,39 a barrel. On Monday it gained 1,2%.

US oil rose 0,2% to $74,02 a barrel. On Monday its price closed at $73,85 a barrel.

Norwegian oil workers’ strike planned today is a result of wage deal rejection. It might cause production disruptions at least at one field.

Meanwhile, the US announced that they want to reduce oil export from Iran, which is a fifth largest producer in the world, to zero by November. It means that other producers will have to increase production.

Concern over supply shortage will support prices through summer when demand is quite high, experts think.

As a result of ports closures, Libya’s output dropped to 527000 barrels per day from high level of 1,28 million per day in February.