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Oil Hits 2016 High on US Draw Forecasts, Nigeria Worry

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NEW YORK, June 7 (Reuters) - Oil prices hit 2016 highs on Tuesday, with U.S. crude settling above $50 a barrel the first time in almost a year, on expectations of domestic stockpile draw and worries about global supply shortfalls from attacks on Nigeria's oil industry.


U.S. crude stockpiles likely fell by 2.7 million barrels last week to mark a third straight week of declines, an updated Reuters poll showed.


http://www.downstreamtoday.com/news/article.aspx?a_id=52453


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