Thursday, June 21, 2007

Brent Oil Rises on Concern Nigerian Strikes May Disrupt Export Shipments

(Bloomberg) -- Brent oil, a benchmark for two-
thirds of global supplies, rose on concern that strikes by
unions in Nigeria may disrupt exports.

Workers will be withdrawn from Nigeria's oil terminals
starting today, extending a nationwide strike to a second day, a
spokesman for the Petroleum & Natural Gas Senior Staff
Association of Nigeria said yesterday. Africa's biggest oil
producer has lost more than 700,000 barrels a day, or a quarter
of output, since last year because of militant attacks.


Read more at Bloomberg Commodities News

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