Stuff (New Zealand): Oil edges near $US66 on supply worries
“Protesters in major exporter Nigeria ended a week-long siege of oil facilities on Monday, to pave the way for talks with Royal Dutch Shell over compensation for an oil spill and fire in 2003.”
Wednesday 24 August 2005
LONDON: Oil prices inched towards $66 yesterday as global supply disruptions, both real and anticipated, stoked crude’s rally and signalled increased volatility.
US light crude was 10 cents higher at $65.75 a barrel by 1012 GMT. London Brent crude rose 9 cents to $64.59 a barrel.
A series of supply outages has overshadowed comfortable crude stock levels in the United States, the world’s largest oil consumer, and pushed crude back towards an all-time high of $67.10 hit earlier this month.