Oil prices rise as Nigerian election concerns linger
LONDON: World oil prices firmed on Monday as concerns lingered over crude production in Nigeria, the worlds sixth biggest exporter of oil, following disputed elections in the country.
In London, the price of Brent North Sea crude for June delivery gained 83 cents to 67.32 dollars per barrel in electronic trading.
New Yorks main oil futures contract, light sweet crude for delivery in June, rose 40 cents to 64.51 dollars per barrel in electronic deals before the official open of the US market.
Crude futures were higher this morning, with investors concentrating on Nigerias elections held over the weekend, said analyst Michael Davies at the Sucden brokerage in London. However, international and local observers said these elections were compromised by ballot stuffing, lack of voting papers and outbreaks of violence, which could mean further violence if the election results are disrupted.
No comments:
Post a Comment