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July 3, 2016
By James Paton
Brent oil (click here) held gains above $50 a barrel as Nigerian militants claimed fresh attacks over the weekend, threatening the country’s efforts to raise output.
Futures rose as much as 0.7 percent in London after advancing 1.3 percent Friday. Niger Delta Avengers said it attacked five crude-pumping facilities overnight Sunday, dealing a blow to government effort to enforce a cease-fire. Shale drillers in the U.S. brought back the most oil rigs of any week this year as confidence in a stabilized market prompts talk of expansion....
Falling US Supply and Congress passed the right for petroleum companies to export. Amazing how Big Oil owns the US Congress.
Brent has recovered about 80 percent since tumbling to a 12-year low in January amid supply disruptions and falling U.S. supply....
Nigerians become upset because of pollution and the impacts of human health. Nigeria is not alone.
