2257 GMT [Dow Jones] Crude closed at 3-week high after gun fights in oil-rich
Niger Delta region, after Nigeria's ruling party candidate won weekend
presidential election in polls denounced by opposition, declared deeply flawed
by international observers.
June Nymex crude +$1.78 at $65.89/bbl, Brent +$1.66 at $68.15. "Nigeria was a
large part of the gains," said senior trader; European gasoline supply concerns
also supported prices, with a major Belgium trade union calling for strike at
country's oil refineries that could begin May 9. Total SA runs a 360,000 b/d
refinery in Antwerp, Exxon 275,000 b/d refinery, Petroplus 110,000 b/d ops. May
RBOB gasoline +2.5%, heating oil +3.4%.
Gold, silver futures mixed with USD quiet, both capped ahead of options
expiration Wednesday after which action may pick up. June Comex gold off $1.60
at $694.20/oz, May silver +9.5 cents at $14.05. July platinum fell $9.50 to
$1,331.70/oz, June palladium slipped 85 cents to $387.40, driven by specs,
funds. Spot gold down $1.25 at $690.40/oz.
LME copper perked up on spec buying in otherwise low-volume session, also aided
by potential strike at Southern Copper in Peru. Copper +$59, lead off $19, zinc
+$65, aluminum +$22, nickel +$650, tin +$50. (WJK)
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