July 10/2018
Looming Norway Oil Strike Pushes Prices Higher
Darkening clouds over Norway's oil industry are pushing prices higher with Brent trading at $78.39 a barrel in morning Asian trade and WTI at $74.02 a barrel.
Wage negotiations with trade unions in Norway fell through and platform workers are due to strike today, disrupting production at at least one field in the North Sea.
This disruption has added to the slump in Libyan production, an outage in
June 29/2016
Oil Rebounds as Post-Brexit Stress Eases, Strike Looms in Norway
Crude oil rebounded yesterday as the bewilderment caused by Britain’s vote to exit the Eu started to subside and as the threat of a strike in Norway’s oil industry reared its head.
Brent crude closed at $48.61 a barrel, up 3%, after touching an intraday high of $48.58. WTI gained 3.3% to close at $47.85, after spiking to $47.81.