NYMEX crude edges up, above $133 on supply concerns

Mon May 26, 2008 9:04pm EDT
 
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 (To see the day's top energy news click [TOP/O])
 TOKYO, May 27 (Reuters) - U.S. crude oil futures rose
slightly on Tuesday to trade above $133 a barrel on concerns over
supply from Nigeria.
 * Front-month U.S. crude for July delivery CLc1 was at
$133.33 a barrel at 0050 GMT on the Globex electronic trading
platform, slightly higher than $133.14 late on Monday.
 NYMEX was closed on Monday for the U.S. Memorial Day holiday.
Crude settled up $1.38 at $132.19 on Friday, after hitting a
record high of $135.09 in intraday trade last week.
 * "The market is still in vacation mode, but the attacks in
Nigeria have pushed up prices somewhat," said Kanae Gokon, deputy
general manager at Okoto Shoji Co's research section.
 * Rebels from Nigeria's southern Niger Delta blew up a Royal
Dutch Shell (RDSa.L) oil pipeline on Monday, forcing the firm to
cut production. [ID:nL26307548]
 The attack was the latest in a campaign by militants that has
cut oil output in the world's eighth-largest producer by about
one-fifth since 2006.
 * Norwegian oil and gas producer StatoilHydro (STL.OL) has
restarted production at North Sea oilfields Vigdis and Snorre A,
which were shut by an oil leak at the nearby Statfjord A
platform. [ID:nL26220690]
 * OPEC President Chakib Khelil reiterated that OPEC would not
meet to discuss the oil market until its next scheduled gathering
in September, the website of the Libyan National Oil Corporation
(NOC) reported on Monday. [ID:nL26702933]
To read the previous day's closing market report, click [O/R]
Diary of upcoming energy news and events -- [O/DIARY]
 (Reporting by James Topham)






















 
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