What's Moving the Oil Markets?

What's Moving the Oil Markets?

•IPE Brent futures in London continued to push upwards breaking new all-time high trades nearing the $80/barrel mark as violence and stand-offs in the Middle East and further attacks on oil infrastructure in Nigeria added more fundamental support, traders said.

•"Yesterday was such an important day and has determined how the market is going to go in the next couple of months. The all time high settle showed that the Brent market is very bullish, and today's open was even more bullish," a London-based broker said.

•On Friday Israeli forces continued a land, sea and air strike against Hezbollah targets and infrastructure in Lebanon. They bombarded Beirut's international airport on Friday in the third raid against the facility in 24 hours, an AFP correspondent said.

• In Nigeria suspected Ijaw militants killed four Nigerian Navy personnel and injured three other soldiers near the oil city of Warri on Wednesday, Nigerian newspapers reported Friday.

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