(Bloomberg) -- Crude oil in New York approached $70
a barrel for first time since September after Nigerian unions
planned a strike this week, threatening supplies from Africa's
biggest oil producer.
Oil production is likely to be affected during the strike as
Nigeria's two main oil unions plan to participate, a labor leader
said. Nigeria produces low-sulfur, or sweet, crude oil, prized by
U.S. refiners because of the high proportion of gasoline it
yields. New York oil reached a record $78.40 a barrel on July 14
on concern that Middle East unrest would cut oil shipments.
Read more at Bloomberg Energy News
a barrel for first time since September after Nigerian unions
planned a strike this week, threatening supplies from Africa's
biggest oil producer.
Oil production is likely to be affected during the strike as
Nigeria's two main oil unions plan to participate, a labor leader
said. Nigeria produces low-sulfur, or sweet, crude oil, prized by
U.S. refiners because of the high proportion of gasoline it
yields. New York oil reached a record $78.40 a barrel on July 14
on concern that Middle East unrest would cut oil shipments.
Read more at Bloomberg Energy News
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