Financial Times FT.com

Saudi pledge fails to cool oil prices

By Chris Flood and Neil Dennis

Published: June 23 2008 09:38 | Last updated: June 23 2008 23:13

Oil prices rose on Monday as geopolitical tensions and concerns about disruptions to output in Nigeria overshadowed Saudi Arabia’s pledge to provide more crude supplies.

Nymex August West Texas Intermediate rose $1.38 to settle at $136.74 a barrel. ICE August Brent climbed $1.05 to close at $135.91 a barrel.

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