NEW YORK -- Crude prices rose back above 130 U.S. dollars Wednesday on Nigerian threat.
Crude prices received a fresh boost from Nigerian threat as Nigerian rebel group The Movement for the Emancipation of the Niger Delta threatened attacks on oil installations.
Buying sentiment was bolstered by a report released by Morgan Stanley. The report said limits on world oil supply could easily lift Brent crude to an unprecedented 150 dollars a barrel.
Light, sweet crude for July delivery was up 2.18 to 131.03 dollars a barrel on the New York Mercantile Exchange. In London, July Brent crude futures rose 2.47 dollars to 130.78 dollars a barrel on the ICE Futures exchange.
Crude prices received a fresh boost from Nigerian threat as Nigerian rebel group The Movement for the Emancipation of the Niger Delta threatened attacks on oil installations.
Buying sentiment was bolstered by a report released by Morgan Stanley. The report said limits on world oil supply could easily lift Brent crude to an unprecedented 150 dollars a barrel.
Light, sweet crude for July delivery was up 2.18 to 131.03 dollars a barrel on the New York Mercantile Exchange. In London, July Brent crude futures rose 2.47 dollars to 130.78 dollars a barrel on the ICE Futures exchange.
