Crude oil futures Friday traded slightly higher, extending the week’s strong gains as prices hit the highest levels since March amid growing concerns of a supply crunch in the second half of the year. Front-month July ICE Brent futures were trading at $117.95/barrel (1425 GMT), compared to Thursday’s settle of $117.40/b but off from Friday’s […]
As prospects for more crude oil demand continue to brighten as global activity picks up steam amid shortfalls in Organisation of Petroleum Exporting Countries (OPEC) member-countries subsist, Nigeria on Tuesday indicated intention to formally seek upward review of its production quota by the oil cartel. Currently indications showed that underinvestment and maintenance work had hampered […]