Rebel attacks in Nigeria underpin crude

Rebel attacks in Nigeria underpin crude

On Thursday, crude rallied on a reported dive in American crude inventories. Another factor contributing to surge was the fact that Nigerian rebels threatened to have the country's petroleum infrastructure attacked.

However, oil prices stood below recent three-year maximums because fuel supplies are still rich and refineries reduced the overall number of operations.

Brent crude futures hit $69.56, adding 0.3% from their previous settlement. On Monday, these futures reached their highest value since December, 2014, demonstrating a reading of $70.37 a barrel.

American West Texas Intermediate crude futures showed $64.25 a barrel, gaining 0.4% from their previous close. On Tuesday, WTI futures marked a December-2014 maximum of $64.89 per barrel.

Market participants told that oil prices had been underpinned after news that Nigeria's militant group dubbed Niger Delta Avengers threatened to attack the country's crude industry soon.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera