Oil prices edged lower in Asian trade Friday, June 22nd, as players assessed whether a strike in key African crude oil producer Nigeria would affect supplies, dealers said.
Oil prices edged lower in Asian trade Friday as players assessed whether a strike in key African crude oil producer Nigeria would affect supplies, dealers said.
At 11:05 am, New York's main oil futures contract, light sweet crude for delivery in August, was down eight cents at $68.57 per barrel from $68.65 in late US trades.
Brent North Sea crude for August was down one cent at $70.21.
"The oil markets were keeping a watchful eye on Nigeria, to attempt to assess what, if any, impact the general strike will have on oil supplies," the Commonwealth Bank of Australia said in a commentary.
Oil prices had tumbled Wednesday after the US government had reported robust gains in energy stockpiles, outweighing concerns about a nationwide strike in crude producer Nigeria, traders said.
New York's main oil futures contract, light sweet crude for delivery in July, fell 91 cents to close at $68.19 per barrel.
The July futures contract expired Wednesday; on the contract for August, which began Thursday, crude fell 81 cents to $68.86 per barrel.
In London, Brent North Sea crude for August delivery had dived $1.42 to settle at $70.42 per barrel. -Neftegaz.ru
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
