London, Aug 18: Oil prices rose in early trading today as dealers took fright at the presumed sabotage attack of a key Iraqi oil pipeline as well as a worrying upsurge in ethnic unrest in Nigeria's main oil region. The price of reference Brent North Sea crude oil for October delivery rose 33 cents per barrel to 29.20 dollars in early trading. New York's light sweet crude benchmark September contract showed a gain of 36 cents to 31.41 dollars per barrel in out-of-hours electronic deals. Iraq's main oil pipeline from its northern oilfields around Kirkuk to the Turkish terminal of Ceyhan was still blazing today after unknown assailants blew up a section near Baiji three days before.
Bureau Report