Iran, Nigeria influence markets

Fear of potential disruptions of crude supplies from Nigeria and Iran is a major factor in the recent fluctuation of world oil prices.“In a world that currently has perhaps just 1.5 million b/d of spare upstream capacity, credible threats [against] 4 million b/d in Iran and 2.5 million b/d in Nigeria will almost inevitably have a significant impact on prices,” said Paul Horsnell of Barclays Capital Inc., London. “Such is the momentum and rigidity in views surrounding the Iranian issue, and such is the intensity of the attacks in Nigeria that...we believe the threats to supply are credible in both cases.”Militants attacked Agip SPA’s office in Port Harcourt, N...

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