Attacks on oil infrastructure in Nigeria, Africa's largest oil producer, are pushing up prices as output gets disrupted. Crude prices edged up in Asia on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country's oil infrastructure. The attacks have hit output from African largest oil producer. On Sunday, a Nigerian rebel group claimed five attacks on the country's oil and gas infrastructure, threatening to scupper efforts to boost production. At about 0325 GMT, US benchmark West Texas Intermediate was up four cents at $49.03, while Brent rose seven cents to $50.42.

Source: dna July 04, 2016 05:15 UTC