Crude oil for August delivery rose as much as $1.20, or 0.9 percent, to $136.56 a barrel in electronic trading on the New York Mercantile Exchange, and traded at $136.52 a barrel at 1:05 p.m. Singapore time. The contract jumped $2.76, or 2.1 percent, to settle at $135.36 a barrel on June 20.
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Crude Oil $136!
Crude oil rose to more than $136 a barrel in New York on speculation Saudi Arabia's pledged output...
Crude oil rose to more than $136 a barrel in New York on speculation Saudi Arabia's pledged output increase may not be enough to quell supply concerns after a pipeline was bombed in Nigeria last week.
The world's biggest oil exporter will pump an extra 200,000 barrels a day and may increase output again if needed, Saudi Arabia's Oil Minister Ali al-Naimi said in Jeddah yesterday. A Nigerian militant group fighting for a greater share of oil wealth will on June 24 halt attacks that have closed about 333,000 barrels a day of supply.
Crude oil for August delivery rose as much as $1.20, or 0.9 percent, to $136.56 a barrel in electronic trading on the New York Mercantile Exchange, and traded at $136.52 a barrel at 1:05 p.m. Singapore time. The contract jumped $2.76, or 2.1 percent, to settle at $135.36 a barrel on June 20.
Crude oil for August delivery rose as much as $1.20, or 0.9 percent, to $136.56 a barrel in electronic trading on the New York Mercantile Exchange, and traded at $136.52 a barrel at 1:05 p.m. Singapore time. The contract jumped $2.76, or 2.1 percent, to settle at $135.36 a barrel on June 20.
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