Oil prices stable: above 64 dollars in New York

0 Comments | AFP, March, 2006

LONDON (AFP) — World oil prices steadied as the market tracked events in major crude producer Nigeria on the eve of the latest weekly snapshot of US energy inventories.

New York's main contract, light sweet crude for delivery in May, dipped six cents on Tuesday to 64.10 dollars per barrel in electronic deals before the market's official opening.

In London, the price of Brent North Sea crude for May delivery rose three cents to 63.64 dollars per barrel in electronic trade.

Oil prices steadied, "with expectations of another rise in US crude stocks offsetting the threats of further attacks on oil facilities in Nigeria", analysts at the Sucden brokerage firm said.

On Monday, Nigerian separatist guerrillas had released three kidnapped oil workers -- two...