Nigerian crudes settle below $70 a barrel; oil traders watch for U.S/Russia deal

Geopolitics keep oil traders on edge as Nigerian crude production hits five-year high

Nigerian crude prices closed the day largely unchanged on Friday as global oil markets weighed the possibility of a breakthrough deal between the United States and Russia to end the war in Ukraine—a move that could reshape Russian crude flows if it wins broad international backing. Bonny Light crude edged higher to $68.85 per barrel, narrowly breaking a six-session losing streak, amid cautious investor sentiment. The muted market reaction came a…

Nigerian crudes settle below $70 a barrel; oil traders watch for U.S/Russia deal

Nigerian crude ended the day slightly unchanged as investors evaluated whether a potential agreement between the US and Russia to end the conflict in Ukraine would gain international support and significantly impact Russian crude flows. Bonny Light just managed to break a six-session losing streak at $68.85 a barrel. The US and Russia are trying […] The post Nigerian crudes settle below $70 a barrel; oil traders watch for U.S/Russia deal  appear…