Impact on oil prices to follow very closely. As oil prices soared Thursday as investors fearing a shortage of black gold, given the prevailing situation in Nigeria, a Nigerian union leader announced the continuation of social movements.
The general strike in Nigeria currently in place and should continue. Note that the parallel negotiations between the Nigerian President Goodluck Jonathan and union leaders were suspended on Thursday and are scheduled to resume Saturday.
"We have not finished the discussion, but they have been successful we must continue Saturday afternoon," has said the union leader.The general strike in Nigeria currently in place and should continue. Note that the parallel negotiations between the Nigerian President Goodluck Jonathan and union leaders were suspended on Thursday and are scheduled to resume Saturday.
"We maintain the status quo until the end of discussions," also continued the President of Nigeria Labour Congress, Abdulwahed Omar.
A discourse that takes place in the fourth day of the general strike against rising fuel prices and comes as the markets have largely responded to the threat made Thursday by the trade unions in the oil sector in this important producing country to stop crude oil production by the end of the week.
Measure would be taken - if any - a sign of support for a general strike against rising fuel prices crippling already Nigeria.
During the day Thursday, prices in London had reached their highest level in over two months.
And late afternoon, a barrel of Brent North Sea crude for February delivery was trading at 113.48 dollars on the Intercontinental Exchange (ICE) in London, rising from $ 1.24 the close of Wednesday.
By 1430 GMT, the course had even left for up to 115.12 dollars, reaching its highest level since November 9, prior to limit its gains thereafter.
Meanwhile, on the New York Mercantile Exchange, a barrel of light sweet crude (WTI) for the same maturity progressed meanwhile from 88 cents to 101.75 dollars.
Investors proved especially very concerned about a possible stop in Nigeria, while trade unions are threatening an interruption of the oil fields of this important member of OPEC.
Recall for any purpose that Nigeria currently produces about 2.10 million barrels per day (bpd), which corresponds to about 2.4% of global consumption.
Sadly, sights like this will become more common if nothing is done to stabilize oil prices. Stopping the chaos in the Middle East would be a very good way to start.
ReplyDeleteoil storage tanks