Friday, 18 May 2007

North Sea Brent Crude Oil Climbs on Reduced Supply, Nigeria Disruptions

(Bloomberg) -- The price of North Sea Brent crude for
loading this month advanced amid expectations of reduced supplies
in June and persisting disruptions in Nigeria.

The discount for so-called dated Brent against cargoes for
loading in July fell by half to 10 cents late yesterday from 20
cents the previous day, according to the broker PVM Oil Associates
Ltd. in London. That works out at $69.80 a barrel as of 12:36 p.m.
London time, compared with a final assessment yesterday of $69.15,
according to Bloomberg calculations based on PVM prices.


Read more at Bloomberg Energy News

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