Friday, May 25, 2007

Oil rises to $71 on supply worries

(Reuters) - Oil rose to $71 a barrel on Friday, near a nine-month high, as a strike in Nigeria threatened more of the country's output and Iran remained defiant over its nuclear programme.

Rising tension surrounding two of the world's leading oil producers have coincided with lower OPEC supply and relatively low gasoline stocks in top consumer the United States before the onset of peak summer demand.


Read more at Reuters Africa

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