(Bloomberg) -- Crude oil rose as a general strike in
Nigeria, Africa's biggest oil producer, continued for a third day
after the government and unions failed to reach an agreement over
an increase in fuel prices.
Yesterday, oil unions withdrew workers from export terminals
in a bid to halt shipments and intensify pressure on the new
administration of President Umaru Yar'Adua. About a third of the
nation's output was already halted by political and criminal
violence. The strike comes during the summer driving season, when
U.S. fuel consumption peaks.
Read more at Bloomberg Commodities News
Nigeria, Africa's biggest oil producer, continued for a third day
after the government and unions failed to reach an agreement over
an increase in fuel prices.
Yesterday, oil unions withdrew workers from export terminals
in a bid to halt shipments and intensify pressure on the new
administration of President Umaru Yar'Adua. About a third of the
nation's output was already halted by political and criminal
violence. The strike comes during the summer driving season, when
U.S. fuel consumption peaks.
Read more at Bloomberg Commodities News
No comments:
Post a Comment