Oil rises above $81 in Asia
SINGAPORE (AP) — Oil prices rose Thursday in Asia, extending overnight gains on news of a surprise strike at Chevron Corp. facilities in Nigeria and another fire at BP PLC’s Alaskan oil field.
Light, sweet crude for November delivery climbed 31 cents to $81.61 a barrel in Asian electronic trading on the New York Mercantile Exchange by mid-afternoon in Singapore. The contract rose $1.04 to settle at $81.30 a barrel Wednesday in New York.
Oil prices often rise when oil supplies are threatened in Nigeria, Africa’s biggest oil producer and one of the top overseas suppliers to the United States.
“Employees of some of the companies providing labor workforce to Chevron, and belonging to the National Union of Petroleum and Natural Gas Workers … initiated (a) strike” at six facilities, Chevron said in a statement, adding that production was unaffected.
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