" />
Building a world of
resilient communities.

MAIN LIST

 

Oil futures hit $50 on Nigerian rebel threat

NEW YORK (Reuters) - Crude oil futures on New York's NYMEX have jumped 36 cents in electronic trading to the psychological $50 a barrel level, the highest in the 21 years oil futures have traded on the exchange, as Nigerian rebels decided an "all-out" war against the government starting October 1.

The rebels advised oil companies operating in the oil-rich Niger Delta to shut production by that date. Instability in Nigeria, the fifth largest OPEC producer, had earlier pushed the dayside open-outcry session to a record intraday high of $49.75 a barrel, before settling at $49.64, up 76 cents on the day, and extending a rally to its eighth straight day.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


The Color of Pollution: How Environmental Contamination Targets People of Color

The way that a person’s race – and to a lesser extent, wealth …

Peak Oil Review: A Midweek Update - 28th July 2016

 A midweek update. Oil prices continued to fall this week as crude …

Thoughts on Significance of Solar Impulse as it Finishes Epic Round-the-World Trip

My interview on BBC World Service Newshour: the heroism of the adventurer …

An Industrial Strategy for Energy

What’s also clear is that while nuclear power is tending to get more …

South Australia’s Electricity Price Woes are more Due to Gas than Wind

The past few weeks have seen extraordinarily high wholesale electricity …

Former Inspectors Describe Dangerous Flaws in Construction of Major East Coast Gas Pipeline

In April, a massive explosion ripped through rural Salem Township, …

Northwest Tribes Band Together to Stop Oil-by-Rail

There’s no such thing as a good place for an oil-train derailment, but …