At the New York Mercantile Exchange, the price of light, sweet crude was up 55 cents today to $62.92 per barrel. At ICE Futures Exchange in London, Brent crude for June delivery increased by 51 cents in price to $67.34.
Strong demand, low imports and unplanned outages and scheduled maintenance at refineries have seen prices rise since the beginning of February - while the ongoing violence in Nigeria, which has cut off supply of 800,000 barrels per day, has also had a contributing effect.
A Nigerian worker at Italian company Agip was grabbed by six gunmen dressed in military fatigues today (Monday) in the latest incident to plague the country's southern oil region.
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