Sunday, 03 June 2007

Oil dips; US gasoline pipeline, Nigeria truce eyed

(Reuters) - Oil prices ebbed on Monday after three days of gains as a major U.S. gasoline pipeline resumed pumping and some Nigerian militants called a one-month truce, although analysts saw little to suggest an end to 18 months of violence.

London Brent crude, current seen as a better gauge of global oil markets, fell 31 cents to $68.76. U.S. light, sweet crude fell 40 cents to $64.68 a barrel by 0143 GMT, ending a three-day rally that was capped by a $1 surge on Friday.


Read more at Reuters Africa

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