Wednesday 8 June 2016

OIL HITS 2016 HIGH ON NIGERIA SUPPLY DISRUPTIONS

The global oil benchmark, Brent crude, extended its gains on Tuesday, trading above the $50 per barrel mark for the first time since October last year.

The further rise in Brent comes as expectations the United States’ crude draws underpinned a market already worried about potential supply shortages from attacks on Nigeria’s oil industry. It hit $50 per barrel for the first time in 2016 on May 26.
 

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