MAJOR HIGHLIGHTS Nigerian rebel group said yesterday that they have carried out a pre-dawn attack against Royal Dutch Shell facilities in a warning to Russia not to invest in the country's oil and gas industry.
Full Story: Crude Oil: Rises on Nigeria news, outlook positive - Commodity Online
According to OPEC, the sabotage campaign in Nigeria by militant group can reduce Nigeria’s oil production to 1.3 to 1.4 million bpd from 1.8 million bps in Q1 2009.
As per US energy department natural gas inventory rose by 94Bcf against the expected increase of 104Bcf.
MARKET RECAP Crude Oil prices rose to one week high yesterday, after militants attacked a key pipeline in Nigeria, raising concerns over oil supply from the region. Weak dollar against major currencies also supported oil gains. NYMEX August Crude Oil futures traded higher by 2.27% to close at $68.67 per barrel, the highest closing since 18th June.
Full Story: Crude Oil: Rises on Nigeria news, outlook positive - Commodity Online
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