Oil price hits two-year high amid Nigeria rig attack

“Oil prices reached two-year high points on Monday before profit-taking pushed them down, while attention was on Nigeria after an oil rig was attacked off the coast of the energy exporting nation.

New York’s main contract, light sweet crude for delivery in December, struck 87.49 dollars a barrel — the highest point since late 2008.

It later pulled back to stand at 86.58 dollars, down 27 cents compared with Friday’s close.

In London, Brent North Sea crude for December fell 36 cents to 87.75 dollars a barrel. Analysts said prices were still profiting from strong US employment figures.”

(Source: AFP: Oil price hits two-year high amid Nigeria rig attack)

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