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Brent Oil Closes Near $50 as Nigeria Output Rises Despite Strife

  • Delta Avengers claim five attacks in blow to cease-fire
  • Nigeria raises oil output 90,000 barrels a day in June
Updated on

Brent crude closed near $50 a barrel as Nigerian output rose last month following repairs to some infrastructure that had been damaged by militant attacks.

Brent fell 0.5 percent, paring earlier gains. The African country pumped an average 1.53 million barrels a day last month, an increase of about 90,000 a day from May, according to a Bloomberg survey. The global benchmark rose earlier as the Niger Delta Avengers said they attacked five crude-pumping facilities overnight Sunday. Nigerian oil workers plan to begin a strike July 7 to protest job losses and delays in passing a new oil law.