Crude Oil Back Above USD70/Barrel After Pipeline Attack
Crude oil moved back above $70/barrel late Thursday after news of a militant attack at a shell refinery in Nigeria.
Nigerian militant group MEND attacked the Bille-Krakrama pipeline, halting supplies from Shell’s Cawthorne 1, 2 and 3 oil-pumping stations.
Firmer Asian stock markets, on spillover from Wall Street closing almost 200 points higher last night, also lent support as too does a weaker dollar.
At 8am BST August WTI crude was standing 92 cents higher at $71.15/barrel.
Nigerian militant group MEND attacked the Bille-Krakrama pipeline, halting supplies from Shell’s Cawthorne 1, 2 and 3 oil-pumping stations.
Firmer Asian stock markets, on spillover from Wall Street closing almost 200 points higher last night, also lent support as too does a weaker dollar.
At 8am BST August WTI crude was standing 92 cents higher at $71.15/barrel.