Wednesday, May 23, 2007

Crude ends above $66/bbl on Nigeria unrest

Crude prices spiked 2.1% to above USD 66 a barrel as continued unrest in Nigeria threatened the OPEC nation's oil exports. Speculation that demand will increase as US refiners make more gasoline to supply summer fuel needs provided support for the prices.

In after hours acces trading, crude is trading at USD 66.89 per barrell up 2 cents on the Nymex.

No comments: