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Oil rises near $117 on supply fears Fame it!
Posted on May 05 2008 5:50 AM by adeal

Oil prices rose Monday, supported by weekend news of an attack on a Nigerian oil installation, but with gains limited by a stronger U.S. dollar. Royal Dutch Shell PLC spokesman Precious Okolobo said Saturday that attackers hit a flow station belonging to Shell's joint venture in southern Nigeria and that some oil production had been shut down. He gave no further details. Flow stations are intersections for pipelines carrying oil from wells to export terminals.



Full story: chron.com
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