LONDON: Oil rose further above $60 a barrel on Friday as unrest in Libya cut supplies, offsetting a growing supply glut in top consumer the US and weak imports by Japan.

Fighting in Libya has cut output there to 352,000 barrels a day, a state oil company spokesman said on Thursday, or about half November’s average. This countered the US Department of Energy’s (DOE) report showing a big stockbuild.

“Libya is a supportive factor,” said Olivier Jakob, analyst at Petromatrix in Zug, Switzerland.

“The fighting in Libya is starting to be more and more about a battle for the oil resources and this will not end well.”

Brent crude was at $60.59 at 1409 GMT, up 35 cents, while US crude added 38 cents to $56.22 in thin trade as many countries were still on Christmas holiday.

In Libya, a rocket set a storage tank at the country’s biggest export terminal, Es Sider, on fire as armed factions allied to competing governments fought for control, officials from both sides said on Thursday.