Oil prices rise as Nigeria unions call new strike
AFP, London
World oil prices rose on Monday after union leaders announced plans for an indefinite general strike in Nigeria, Africa's largest exporter of crude, to begin later this month, traders said. New York's main contract, light sweet crude for delivery in December, rose 49 cents to 52.25 dollars a barrel in electronic trading. In London the price of Brent North Sea crude oil for delivery in December climbed 43 cents to 49.41 dollars a barrel in electronic deals. The International Petroleum Exchange in London on Monday began delaying the start of floor trading in Brent crude by four hours until 2:00 pm (1400 GMT) in a move aimed at promoting its Internet-based dealing system. "Prices are higher because of Nigeria and the potential for another general strike to break out in the country," GNI-Man Financial trader Lee Elliott said.
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