Thursday, July 5, 2007

Oil Rises Above $72 to 10-Month High on Nigerian Unrest, Refinery Closings

(Bloomberg) -- Crude oil rose above $72 a barrel in
New York, a 10-month high, on concern that unrest in Nigeria may
curb oil shipments and unexpected shutdowns at U.S. refineries
will cut fuel production.

Nigerian gunmen kidnapped a three-year-old daughter of a
British expatriate on her way to school in the southern oil city
of Port Harcourt, a police spokesman said. Five contractors were
seized yesterday from a rig operated by Royal Dutch Shell Plc's
Nigerian venture. A refinery in Kansas and a gasoline-producing
unit at a Texas facility were shut this week.


Read more at Bloomberg Energy News

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