Oil near US$50 amid drop in US rigs, disruptions in Nigeria

May 30, 2016 12:30 AM

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Oil near US$50 amid drop in US rigs, disruptions in Nigeria

[TOKYO] Oil traded near US$50 after a drop in active rigs in the US and further supply disruption in Nigeria.

Futures rose as much as 0.8 per cent in New York. Rigs targeting crude in the US fell by 2 to 316, after no change the previous week, Baker Hughes Inc. said on its website on Friday.

Also read: Oil prices hold gains after surge on OPEC output deal

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