Crude falls after U.S. oil stockpiles climb to nine-month high

Government Order

The U.S. Pipeline and Hazardous Materials Safety Administration issued the order yesterday, citing hazards to “life, property and the environment” if the pipeline were to continue operating without corrective measures. The line leaked 3,500 to 5,000 barrels of oil.

An explosion hit Libya’s Zueitina Oil Co.’s crude and condensate pipelines yesterday at 10 p.m., state-run National Oil Corp. said on its website, citing company official Abul Qasim Shanger. The company is investigating the incident and starting repairs, NOC said, without saying whether operations were disrupted. There were no casualties, it said.

The main rebel group in Nigeria’s oil-rich Niger River delta said it’s resuming assaults on Africa’s biggest petroleum industry after its suspected leader, Henry Okah, was imprisoned in South Africa.

The Movement for the Emancipation of the Niger Delta will start April 5 to carry out “a plague of attacks,” spokesman Jomo Gbomo said today in an e-mailed statement. “The attacks will be sustained until an unreserved apology is offered to MEND and the Nigerian government shows their willingness to dialogue.”

Bloomberg News

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