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Oil Prices Eased Despite Nigeria's Strike

Oil prices edged lower in Asian trade Friday

Oil Prices Eased Despite Nigeria's Strike

Oil prices edged lower in Asian trade Friday as players assessed whether a strike in key African crude oil producer Nigeria would affect supplies, dealers said.

At 11:05 am, New York's main oil futures contract, light sweet crude for delivery in August, was down eight cents at $68.57 per barrel from $68.65 in late US trades.

Brent North Sea crude for August was down one cent at $70.21.

"The oil markets were keeping a watchful eye on Nigeria, to attempt to assess what, if any, impact the general strike will have on oil supplies," the Commonwealth Bank of Australia said in a commentary.


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