SINGAPORE – Oil prices slipped under US$66 (N$415,80) yesterday after a sharp rally that came on nagging worries over supply disruptions and on expectations of falling US petrol stocks ahead of peak summer demand.
US light crude traded 22 cents down at US$65,85 a barrel by 0708 GMT, after surging US$1,91 on Tuesday to the highest level since early February. London Brent crude traded 12 cents lower at US$64,85 a barrel.Prices have stayed above US$60 for more than a month as traders are worried about threats to slashed Nigerian supplies and geopolitical tension over Iran’s nuclear programme, ahead of the peak summer petrol-demand season in the northern hemisphere.-Nampa-ReutersLondon Brent crude traded 12 cents lower at US$64,85 a barrel.Prices have stayed above US$60 for more than a month as traders are worried about threats to slashed Nigerian supplies and geopolitical tension over Iran’s nuclear programme, ahead of the peak summer petrol-demand season in the northern hemisphere.-Nampa-Reuters
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