Monday, June 25, 2007

Oil dips on expected US stockbuild, Nigeria supply

(Reuters) - Oil prices eased on Tuesday amid swelling U.S. inventories and hopes that Nigerian exports could rise, but held above $71 after a series of U.S. refinery outages during the peak summer demand season.

London Brent crude, currently seen as the best benchmark for global oil prices, slipped 19 cents to $71.17 a barrel by 0309 GMT, after gaining 18 cents on Monday. U.S. light, sweet crude dipped 4 cents to $69.14 a barrel.


Read more at Reuters Africa

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