Oil fell toward $69 a barrel Wednesday after government data showed a build in U.S. gasoline inventories ahead of the Independence Day holiday, traditionally the peak of the summer driving season.
Oil prices fell more than a dollar on Friday, pressured by weakness on Wall Street and news top African oil producer Nigeria would halt a battle with rebels in its energy-rich Niger Delta.
Oil dropped almost 4% to below $67 a barrel on Monday as a stronger dollar and weaker European equities outweighed attacks on the oil industry in top African exporter Nigeria.
Nigeria's main militant group issued a veiled threat Monday against an upcoming world football tournament that is tentatively scheduled to take place in the west African nation later this year.
Oil fell to around $71 a barrel on Monday, extending its retreat from a near eight-month high as the dollar firmed and analysts said the market had rallied too quickly.
A militant group operating in the oil-rich Niger Delta region of Nigeria said Monday that it had destroyed several major oil pipelines in response to a military offensive.
Oil fell toward $69 a barrel Wednesday after government data showed a build in U.S. gasoline inventories ahead of the Independence Day holiday, traditionally the peak of the summer driving season.
Oil prices fell more than a dollar on Friday, pressured by weakness on Wall Street and news top African oil producer Nigeria would halt a battle with rebels in its energy-rich Niger Delta.
Oil dropped almost 4% to below $67 a barrel on Monday as a stronger dollar and weaker European equities outweighed attacks on the oil industry in top African exporter Nigeria.
Nigeria's main militant group issued a veiled threat Monday against an upcoming world football tournament that is tentatively scheduled to take place in the west African nation later this year.
Oil fell to around $71 a barrel on Monday, extending its retreat from a near eight-month high as the dollar firmed and analysts said the market had rallied too quickly.
A militant group operating in the oil-rich Niger Delta region of Nigeria said Monday that it had destroyed several major oil pipelines in response to a military offensive.
Incident details: "Armed pirates chased, boarded and hijacked a fishing trawler underway" southeast of Mogadishu, Somalia. "Several persons armed with machine guns, rocket-propelled grenade launchers and machetes attempting to climb onboard with use of rope" at Lagos anchorage, Nigeria.
Residents of this small town in Nigeria's oil-rich delta region fled after fighting over scant resources reduced their homes to rubble and turned their neighbors into foes.
Trash litters its cities. Electricity is sporadic at best. There is no clean water. Medical and educational services are limited. Basic infrastructure is severely lacking.
A Nigerian militant group issued a statement Wednesday saying it will destroy major oil pipelines "within the next 30 days" to disassociate itself from a government pipeline protection deal.
Leaders in a volatile region of Nigeria have agreed to participate in government-backed talks intended to stop attacks on the country's oil industry, a government spokesman said Tuesday.
A Nigerian rebel movement blamed for an number of recent attacks on the African country's oil industry announced a unilateral truce Sunday after an appeal for negotiations by tribal leaders.
Oil production was shut down at an offshore Nigerian facility after an armed attack Thursday by a powerful militant group from the Delta region, Shell said.
A rebel group that has been attacking oil pipelines in southern Nigeria claimed responsibility on Monday for another strike and said it killed 11 government soldiers in fighting that followed the sabotage.
Oil traders awaited an inventory report early Thursday that could push crude prices back to the $100 mark and continue a six-year, five-fold spike in oil prices driven by surging demand and limited supply.
Authorities imposed a dusk-to-dawn curfew Friday in the heart of Nigeria's oil region, where security forces and gang members have clashed in battles that left dozens feared dead.
Crude gained $1.00 Friday to settle at $72.81, the highest settlement since Aug. 22, 2006, as Nigerian disruptions and OPEC output cuts stirred supply concerns amid rising U.S. refiner demand.
Gunmen who kidnapped a 3-year-old British girl in Nigeria have demanded money and talks to secure her release are about to start, the girl's mother said on Friday.
Oil prices were flat Tuesday, hovering near a 10-month high posted in the previous session on concerns that a strike call in Nigeria could further cut crude output in the world's eighth-biggest oil exporter.
Just days after a presidential election marred by accusations of violence, fraud and voter intimidation, CNN's Isha Sesay sat down with Nigerian ruler Olusegun Obasanjo. In the exclusive interview, the former general defended the election and his administration's record on battling corruption. With just weeks remaining in office he reflects on his eight-year rule and looks forward to returning to his family farm.
Blesso Amakiri, a logistics manager at Smit Nigeria in Port Harcourt, canceled an order for a new SUV in early March. Amakiri, 42, whose company operates tugboats in the oil-rich Niger River delta, reckoned he might be laid off, now that more than a fifth of Nigeria's oil production has been shut down by unrest in the region. Late last month he lost his job.
Twenty-four recently freed Filipino hostages safely arrived home to Manila Saturday after militants held them captive for 25 days in a clandestine jungle camp in Nigeria.
A Nigerian government spokesman on Monday accused CNN of paying for and staging a report that showed 24 Filipino hostages being held by masked gunmen in the remote mangrove swamps of southern Nigeria.
The Philippine government strongly hinted Friday it would approve the payment of ransoms to win the freedom of 26 Filipino hostages missing or kidnapped in Nigeria.
Splashing across the murky waters of southern Nigeria in a speedboat, I suddenly found myself in one of the scariest positions of my journalistic career: masked militants firing machine guns at me and my crew.
In the remote mangrove swamps of southern Nigeria, 24 Filipino hostages appeared frightened and disheveled. Around them, dozens of militants, dressed in black and wearing black ski masks, danced wildly and fired their automatic weapons into the air.
Oil prices climbed back above $64 barrel, then settled below that level after a government report revealed a bigger than forecast drop in crude stocks along with a jump in inventories of other products.
Oil prices fell over $1 Wednesday after the government reported a high level of domestic petroleum supplies and tensions eased with Iran over its nuclear program.
On April 29, a call from a mobile phone detonated a car bomb near an oil refinery in the southern Nigerian city of Warri. No one was killed, but the effects of the blast were felt as far away as Be...
Nigerian militants on Wednesday staged a bloody attack on an oil facility in the Port Harcourt area, abducting five South Korean oil workers to be held until two imprisoned local leaders are freed from jail, militants told CNN.
Three foreign oil workers kidnapped in the Nigerian city of Port Harcourt have been freed, the Italian oil and gas company Eni SPA said Friday, according to Italian media.
Oil prices held steady before climbing further above $58 a barrel Wednesday after the Energy Information Administration reported that crude stockpiles rose, but that the supply of distillates used for heating fell.
International oil giant Shell said Thursday it has been forced to suspend some exports of 110,000 barrels a day because of community unrest in the Niger River Delta in Nigeria.
The Nigerian government has signed a cease-fire with three rebel groups that had been targeting foreign oil companies and their workers in the Niger Delta region, government officials said Friday.
Oil prices closed at record highs for a third straight session on Tuesday, despite a pledge to increase production by Saudi Arabia, a top exporter in the Organization of Petroleum Exporting Countries (OPEC).
The Nigerian rebel group fighting government troops in the oil-rich Niger delta has warned it will launch "all-out war on the Nigerian state" from October 1 and advised all oil companies to shut production by then.
Oil prices reached a record $50 a barrel on Monday as Nigeria emerged as the latest focus for worries about supply in an already tight worldwide energy market.
SIR PETER HOLMES has a way of brushing death aside. He stepped on a land mine while serving with the British Army in Korea 40 years ago but escaped with minor injuries. Last summer he walked away f...
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