RealNews

Oil prices climb by almost $2 a barrel

Oil prices jumped by almost $2 a barrel Friday after it was reported that eight foreigners working on a drilling rig off the coast of Nigeria had been kidnapped. Even though no output was affected, the news reignited concerns about the stability of supplies in the oil-rich African nation. Analysts said anxiety over Iran’s nuclear ambitions also supported crude futures. U.S. data showing gasoline demand on the rise at the start of the summer driving season and a refinery snag in Texas underpinned a rally in gasoline futures. Full Story

OODA Analyst

OODA Analyst

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