After a spurt caused by supply worries linked to violence in Nigeria recorded on the previous day, crude oil futures dipped. Light, sweet crude for June delivery fell to US$72.94 a barrel in electronic trading on the New York Mercantile Exchange.
On Thursday, gunmen in Nigeria kidnapped at least two foreign oil workers from a bus in a second day of attacks targeting such workers in Port Harcourt. A new militant movement's attacks on oil installations have cut more than 20% of Nigeria's daily production of 2.5 million barrels.
Persistent concerns about Iran continue to support prices. This week, key U.N. Security Council members agreed to present Tehran with a choice of incentives, including energy security and civilian nuclear power, or sanctions in deciding whether to suspend its uranium enrichment program.
12-May-06 
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