Oil prices continued to rise on Friday, extending their gains from the previous session, amid continuing concerns about fighting in the Middle East and the possibility of prolonged disruption in to output from Nigeria.
In Nigeria, Shell has declared force majeure on Bonny Light crude exports from a terminal that normally exports about 390,000 barrels of oil a day after a pipeline leak shut down 180,00 barrels a day of production.
Shell’s chief executive warned there was unlikely to be a significant recovery this year in the production that has been shut down.
ICE September Brent rose 20 cents to $75.21 a barrel while Nymex September West Texas Intermediate added 10 cents to $74.64 a barrel.
Copper rose to $7,620 a tonne on supply concerns with workers at Escondida, the world’s largest copper mine in Chile, likely to vote for strike action later on Friday.
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Source Yahoo! Finance
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