Crude oil futures have risen on Tuesday in early Asian trade as demand gets stronger and supply concerns from Iran and Nigeria continue to plague the market. Light, sweet crude for May delivery stood at US$64.25 a barrel on the New York Mercantile Exchange.
On Monday, militants in Nigeria's southern delta released their last remaining foreign hostages more than 5 weeks after the oil-industry workers were kidnapped. Iran, the No. 2 oil producer in OPEC, has been referred to the UN Security Council over fears it may want to misuse its nuclear program to make weapons.
Concern about supplies from Nigeria and Iran coupled with growing anxiety about the next hurricane season in the Gulf of Mexico, were expected to limit any price decline.
28-Mar-06 
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