Oil markets rose this morning as worries about supply disruptions from Nigeria and Iran offset pressure from a high inventory build and eurozone debt woes.
Brent crude rose by 83¢ to stand at $113.07 a barrel and US crude gained 49¢ to $101.36.
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Investors were concerned about mounting tensions between the West and Iran over its disputed nuclear programme after an Iranian nuclear scientist was blown up in his car by a motorbike hit man on Wednesday, prompting Tehran to blame Israeli and US agents, reports Reuters. Meanwhile, Nigeria’s oil union threatened to cut oil supplies after the government announced plans to scrap a fuel subsidy.
