Oil prices rise after Jeddah summit

World oil prices rose in Asia on Monday after militants blew up a Nigerian oil pipeline, intensifying concerns about tight global crude supplies despite Saudi Arabia’s output hike, dealers said.

New York’s main oil futures contract, light sweet crude for August delivery, was 94 cents higher at 136.30 dollars per barrel. The July contract had leapt 2.69 dollars to close at 134.62 dollars before expiring on Friday.
Brent North Sea crude for August was 94 cents higher at 135.80 dollars per barrel after rising 2.86 dollars to settle at 134.86 dollars on Friday in London.

Asia Times