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Oil prices go up resulting from disruption to Nigerian output

Monday started form higher oil prices as a result of more disruption to supplies in Nigeria.

05.Jul.16 2:16 AM
By Anastasia Sutulova


Oil prices go up resulting from disruption to Nigerian output
Prices for the U.S. crude oil went 13 cents up, or 0.27%, and stopped at $49.12 at 06:45 ET, while Brent crude oil prices rose by 0.32% and amounted $50.51.

Militants claimed responsibility for further attacks on Nigeria’s oil infrastructure.

It is expected that despite all the instability, supply and demand will be in alignment in 2017.

Among other factors that can make an impact on oil supply and demand are oil rigs count and dollar index.

Baker Hughes data Friday showed a rise of 11 in the number of oil rigs operating in the U.S. to 341. It has been the fourth week of growth. The dollar index was flat. A lower dollar supports demand for oil.

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