MTECHTIPS;-Oil up on threats of rebel attacks in Nigeria, falling US

MTECHTIPS;-Oil up on threats of rebel attacks in Nigeria, falling US crude stocks

MTECHTIPS- Oil prices rose on Thursday on a reported decline in U.S. crude inventories, and as rebels in Nigeria threatened to attack the country’s petroleum infrastructure. However, prices stayed below recent three-year highs as fuel supplies remain ample and as refineries scaled back operations. Brent crude futures were at $69.56 at 0255 GMT, up 18 cents, or 0.3 percent, from their last close. On Monday, they hit their highest since December, 2014 at $70.37 a barrel. U.S. West Texas Intermediate (WTI) crude futures were at $64.25 a barrel, up 28 cents, or 0.4 percent, from their last settlement. WTI marked a December-2014 peak of $64.89 a barrel on Tuesday. Traders said prices had been pushed up after reports that Nigeria’s militant group Niger Delta Avengers threatened to launch attacks on the country’s oil sector in the next few days. Markets were also supported by a drop in available crude inventories

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