Monday, June 4, 2007

Crude Oil Trades Near Two-Week High on Concerns Over Oman Cyclone, Nigeria

(Bloomberg) -- Crude oil was little changed near a
two-week high in New York after rising yesterday on risks to
supplies from the Middle East and Nigeria.

Oman evacuated about 7,000 people from coastal areas in the
path of a cyclone heading toward the coast, Agence-France Presse
reported. Brent crude oil climbed to $70.40 a barrel yesterday on
the risk to tankers operating in the Gulf and the threat of
further strikes in Nigeria, Africa's biggest producer.


Read more at Bloomberg Energy News

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