Crude oil price jumps above $65
Britain’s Forties oil pipeline, the country’s largest at a capacity of 450,000 barrels per day (bpd), shut down on Monday after cracks were revealed.
Brent crude futures on Tuesday, the international benchmark for oil prices, were at $65.07 dollars a barrel at 0211 GMT.
U.S. West Texas Intermediate (WTI) crude futures were at 58.21 dollars a barrel.
“The market reaction shows that in a tight market, any supply issue will quickly be reflected in higher prices,” said ANZ bank.
ADVERTISEMENT
The jump in Brent prices widened its premium to WTI prices, making U.S. oil exports more attractive.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
My govt recruited 5,000 workers in 7 years – Obaseki
Tinubu salutes workers as they await new minimum wage
MNJTF intensifies operation to eliminate Boko Haram, ISWAP in Lake Chad
756 schools to compete in Anambra sports festival
Residents protest plan to withdraw security from Edo ijaw communities
Gov Sani unveils ₦500m loan scheme for Kaduna workers
Obi salutes Nigerian workers amid countless obstacles and hurdles
Lagos community begs Tinubu to stop Umahi from implementing Lagos-Calabar road design
How we nurtured Anambra UTME candidate to score 324 in JAMB - LG Chairman
ADVERTISEMENT