Oil Ends Below $50 on Nigerian Cease-Fire
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Oil prices slid from record highs  above $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire with  the government.
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Oil prices ended above $50 a barrel on  Friday amid concern over possible fighting between rebels and  the military in Nigeria's oil-rich delta region.
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Oil prices fell in light trading yesterday , eased by the end of a Nigerian oil workers' strike over the weekend.
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Oil prices slipped below $69 a barrel yesterday after a report that a strike in Nigeria hasn't affected oil exports from Africa's largest crude producer alleviated the market's supply concerns.
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Oil prices slid from record highs above  $50 a barrel Wednesday as the U.S. government reported a  surprise increase in crude stocks and rebels in Nigeria's  oil-rich delta region agreed to a preliminary cease-fire.
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Oil prices slid below the psychologically critical 50 dollar a barrel mark as tensions eased in Nigeria's southern oil heartland, where a rebel group fighting for control of the country's key resource said it had surrendered its weapons.
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Crude oil prices have dipped in New York, sliding as much as two dollars to around $50 a barrel. That&#39;s extending declines seen last week despite concerns that a planned strike in Nigeria could affect output.
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Oil prices closed lower in New York trading on Wednesday for the first time in two weeks, down 39 US cents at $US49.51 a barrel, as concerns about Nigerian crude output eased and US oil inventories rose.
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NEW YORK - Oil fell back below US$50 on Thursday, resuming a downturn that has cut prices 11 per cent from record highs and ending a brief rally following President George W. Bush&#39;s US election victory.
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Oil prices slid towards $US49 a barrel, after United States crude stocks rose unexpectedly and rebels in Nigeria&#39;s oil- rich delta region agreed to a ceasefire with the Government, reducing an imminent threat to supplies.
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down unless the government began talks on autonomy and revenue for the oil-producing Niger Delta region. Militia leader Mujahid Dokubo-Asari agreed to a truce on Wednesday to allow talks to proceed.
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Oil prices ended above the $50-a-barrel mark on Friday amid concern over possible conflict in Nigeria's oil-producing delta region, where a two-day truce between rebel militia and government forces is holding.
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Oil prices held above $49 on Friday as a rebel warlord threatening an offensive in Nigeria&#39;s oil-producing delta region said the government had violated the terms of a two-day truce.
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Oil prices raced to new record highs above $50 on Tuesday as rebel threats against Nigerian oil facilities threatened to inflict further strain on global supplies.
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Oil prices ended above $50 a barrel amid concern over possible fighting between rebles and the military in Nigeria&#39;s oil-rich delta region.
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Crude oil futures rose above $50 a barrel in New York on concern rebel attacks in Nigeria may reduce production while US inventories are near a 29-year low because of disruptions caused by Hurricane Ivan.
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Oil prices remained just below record  highs on Friday amid concern over possible conflict in  Nigeria's oil-producing delta region, where a two-day truce  between rebel militia and government forces is holding.