Notes On The News: Nigeria's Crisis And Oil Prices
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(120 sec.) Africa's largest oil producer is facing a resurgence of violence and kidnappings driving oil prices up.
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Oil prices retreated from highs reached last week due to balmy weather in the United States, but stayed above $62 a barrel yesterday as blasts tore through two oil company facilities in southern Nigeria.
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Oil prices hit a new record of 50.47 US dollars a barrel on Tuesday as rebels in Nigeria threatened oil output and hurricane Ivan slashed production in the Gulf of Mexico, despite Saudi Arabian pledge to increase output.
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LONDON : Oil prices resumed their march towards 50 dollars in New York as peace talks in major producer Nigeria and an unexpected rise in US crude inventories failed to ease traders&#39; fears about supply.
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Oil prices plunged by more than $2 a barrel yesterday on hopes that the inauguration of a new president in OPEC member Nigeria would contribute to a stable supply from the Niger Delta region.
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Oil prices slid from record highs  above $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire with  the government.
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Oil prices ended above $50 a barrel on  Friday amid concern over possible fighting in Nigeria's  oil-producing delta region, where a two-day truce between rebel  militia and government forces was holding.
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London crude prices have hit record highs as Nigeria emerges as the new focus of worries about supply security on world oil markets.
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Oil prices soared to a new record above $50 yesterday as uncertainties over Nigerian output heightened worries of a severe supply disruption ahead of winter.
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A fresh attack on oil facilities in Nigeria and possible strike action by workers there sends oil prices above $70 a barrel.
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By Malcolm Moore, Economics Correspondent (Filed: 12/10/2004). Striking oil workers in Nigeria and Norway yesterday drove the price of oil past the $50 a barrel threshold for the first time in London.
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NEW YORK: Oil prices pierced the $50-a-barrel mark again last night amid concern over possible conflict in Nigeria&#39;s oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Crude oil barrel price registered a new record in New York yesterday of $ 53.25 over fears of Nigeria&#39;s exports halt and the production decrease of the American oil in the Mexican Gulf related to the bad weather conditions it experienced recently.
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Oil prices rose to record highs Monday  near $50 a barrel for U.S. crude as Nigeria emerged as the  latest focus for worries about supply in an already tight  worldwide energy market.
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A revolt in the African state is threatening to disrupt the country&#39;s most important export. Christian Allen Purefoy reports from Lagos on the latest conflict driving up the price of crude.
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Oil prices surged to new record highs on Monday near $50 for US crude as Nigeria emerged as the latest focus for worries about supply security on world energy markets.