Sun, Aug 06, 2006 - Page 10 News List

Oil prices ease as threat from hurricane recedes

RESPITE Crude oil prices dipped under US$75 as a Caribbean storm veered away from oil facilities, but unrest in the Middle East and Nigeria kept them high

AP , NEW YORK

In southern Nigeria on Friday, three Filipinos working for the US construction firm Baker Hughes Inc were kidnapped, a day after a German was abducted in a region where the handling of oil revenue has caused strife between multinationals and local communities.

Also keeping a high floor under prices is fighting between Israel and Hezbollah in southern Lebanon, as well as Iran's commitment to continue its nuclear enrichment program.

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