Tuesday, June 19, 2007

Oil Declines as Traders Conclude Gains to Nine-Month High Were Unjustified

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York as some traders speculated recent gains that
followed unrest in Nigeria were unjustified.

Nigeria's two main oil unions said yesterday they planned to
join a general strike scheduled to start tomorrow. In addition,
Chevron Corp. and Eni SpA reported raids on facilities in the West
African nation, Africa's biggest oil producer.


Read more at Bloomberg Commodities News

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