LONDON (SHARECAST) - Oil futures inched higher Monday as concern over global supplies returned. Middle East tensions returned to the fore as Irans deadline from world powers to respond over its nuclear plans comes to a close in less than a week.
Iranian president Mahmoud Ahmadinejad sparked tensions when he said the country operates twice the number of uranium-enriching machines than previously thought.
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Fresh attacks on Nigerian pipelines and comments by Iran's president raised concerns over global oil supplies and lifted the prices above $125 a barrel in NYMEX.
Light, sweet crude oil for September delivery in the New York Mercantile Exchange traded in the range $122.63 - $125.22, before settling at $125.03 a barrel.
d downwardly revised the world oil-demand growth for 2008 and 2009.

By Nesa Subrahmaniyan July 29 (Bloomberg) - Crude oil traded near $125 a barrel in New York after rising 1.2 percent yesterday as Royal Dutch Shell Plc reduced Nigerian production because of an attack on a pipeline by militants.
Nigeria's main militant group, the Movement for the Emancipation of the Niger Delta, claimed responsibility for the attack. The incident occurred on the Nembe Creek trunk line, and Shell said it had to cut some output without specifying the amount of production lost.
past year. Yesterday, crude climbed $1.47, or 1.2 percent, to $124.73.

GOLD was steady in Europe yesterday as firmer oil and a weaker dollar underpinned prices, with trading light ahead of key economic data due later this week. The precious metal is expected to remain range bound as the market takes a breather after Friday’s volatile session, with traders eyeing an initial target of $935/oz.
Gold was trading at $927,40-$929,40/oz by early afternoon, unchanged from its level late in New York on Friday, when it moved in a volatile $16 range.
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SINGAPORE (AP) - Oil prices rose above $125 a barrel Tuesday on supply concerns sparked by the sabotage of two oil pipelines by militants in Nigeria.
Light, sweet crude for September delivery added 33 cents to $125.06 a barrel in Asian electronic trading on the New York Mercantile Exchange by midmorning in Singapore. The contract rose $1.47 to settle at $124.73 a barrel on Monday.
market is really only reacting modestly."

by J. Brock (FINN) By J. Brock - At 1930hrs LMT on Monday, 28 July 2008 Light Sweet Crude was trading at $124.73 up $1.46 on the New York Mercantile Exchange. Brent Crude was trading at $126.10 up $1.58 on Londons ICE Futures Market.
energy there is an emerging market for eco-friendly vehicles. Hopefully they will catch on for people who still have money to invest in them.
P500: 1,234.37 down 23.29

OIL edged higher on supply interruptions in Nigeria and escalating rhetoric from Iran, though US economic concerns capped the gains.
Light, sweet crude for September delivery settled $US1.47, or 1.19 per cent, higher at $US124.73 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled $US1.32 higher at $US125.84 a barrel.
arakat, senior vice president of global energy futures at Macquarie Futures USA in New York. Nigeria produces highly viscous and low-sulfur crude that's coveted by refiners due to its relatively high yields of light products such as gasoline.

By Alan Fein (AXcess News) New York - Shell cut production back at its Nigerian wells due to concern over renewed rebel attacks that when combined with a

NEW YORK (AFP) - Oil prices rallied Monday after militants attacked a Royal Dutch Shell pipeline in Nigeria, leading the Anglo-Dutch energy giant to reduce output.
New York's main contract, light sweet crude for September, advanced 1.46 dollars to close at 124.73 dollars a barrel.
d damage to the Kula pipeline but was unable to confirm rebel claims of an attack to a second pipeline.

NEW YORK, July 28 (UPI) - Crude oil prices rose slightly in New York Monday on tensions in Nigeria and a sharp drop in U.S. miles driven in May compared to a year ago.
Royal Dutch Shell PLC (NYSE:RDS-B) reported flow through a 130,000-barrel-a-day pipeline stopped after a militant group claimed it had bombed two pipelines, The Wall Street Journal reported.
d Monday were at $3.958 per gallon, down from Sunday's $3.97, the AAA Daily Fuel Gauge Report said.

NEW YORK - Gold futures gained on Monday but remained below the $930-an-ounce mark, as a weaker dollar boosted the investment appeal of the precious metal as a hedge against inflation.
Gold for August delivery rose 90 cents to close at $927.70 an ounce on the Comex division on the New York Mercantile Exchange. The metal hit an intraday low of $922.40, and closed below the day's high of $932 an ounce.
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Crude futures end the day up $1.47 as tensions in the oil-rich countries of Nigeria, Iran prompt supply concerns that overshadow declining demand.
eria, it quickly takes away any sort of cushion we have in the overall picture," said Neal Dingmann, senior energy analyst at Dahlman Rose & Co.

Oil prices fluctuated Monday after an attack by militants on Nigerian oil pipelines and comments by Iran's president suggested a significant increase in the country's nuclear program. Concerns about flagging U.S. demand once again limited the gains.
Light, sweet crude for September delivery rose 77 cents to $124.03 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $2.23 to settle at $123.26 a barrel on Friday — a drop of more than $20 in just weeks — as investors questioned whether crude's decline reflects a serious deterioration in demand.
er rankle the United States and others who fear Tehran is intent on developing weapons.

By Mark Shenk July 28 (Bloomberg) -- Crude oil was little changed in New York as US motorists cut back on driving and as Royal Dutch Shell Plc said it

By Polya Lesova, MarketWatch NEW YORK (MarketWatch) -- Crude-oil futures pared most of their gains Monday, after rising earlier on escalating geopolitical

ABUJA, July 28 (Reuters) - Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) is still assessing the damage from pipeline attacks by Nigerian militants on Monday and any estimates of shut-in output would be "speculative", the country's oil minister said.
"Shell is still assessing the damage. Any supposed shut-in figures now would be speculative," Odein Ajumogobia told Reuters. (Reporting by Randy Fabi; Editing by Nick Tattersall)
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