NEWS

Oil Price Rally After Niger Delta Avengers Threats

Oil prices inched higher Thursday on a reported decline in U.S. crude inventories, and as the Niger Delta Avengers threatened to attack oil installations in Nigeria’s oil rich region.
Brent crude futures were at $69.56 at 0255 GMT, up 18 cents, or 0.3 percent, from their last close. On Monday, they hit their highest since December, 2014 at $70.37 a barrel.
U.S. West Texas Intermediate (WTI) crude futures were at $64.25 a barrel, up 28 cents, or 0.4 percent, from their last settlement. WTI marked a December-2014 peak of $64.89 a barrel on Tuesday.
Niger Delta Avengers Wednesday threatened renewed deadly attack on oil installations in Nigeria.
“This round of attacks will be the most deadly and will be targeting the deep sea operations of the multinationals,” the group said in a statement on its website.
The group, which wants a greater share of Nigeria’s energy wealth to go to the Delta region, said its targets would include Bonga Platform, Agbami, EA Field, Brittania-U Field, Akpo Field.

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