Crude Oil rose for a second day after attacks on energy facilities in Nigeria and Iraq OPEC’s third and seventh largest oil producer. Nigeria’s main militant group claimed its first assault on oil infrastructure in the country in five months while Iraq shut its northern export pipeline to Turkey after an explosion damaged the link. OPEC meeting in Angola on Tuesday said it expects to hold production targets.
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Prices are up a bit after rebels attacked facilities in Nigeria and a pipeline in Iraq was attacked said Addison Armstrong director of marker research at Tradition Energy in Stamford. Crude oil for January delivery rose 69 cents or 0.9% to $74.05 a barrel at 10.30am on the New York Mercantile Exchange. Prices are up 66% this year.
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