Oil prices gain ground
Oil prices turned higher Monday, rising above 57 dollars as traders kept close watch on escalating unrest in key African crude producer Nigeria.
New York's main futures contract, light sweet crude for delivery in June, gained 68 cents to 57.02 dollars a barrel.
Brent North Sea crude for July rose 69 cents to 56.67 dollars.
"An escalation of violence in Nigeria is providing support (for) prices," said Dave Ernsberger, senior editorial director for Asia at energy information company Platts.
Nigerian troops launched a military operation over the weekend in the oil-producing Niger Delta region and freed 13 hostages, including nine Filipino sailors.
Rebels from the Movement for the Emancipation of the Niger Delta (MEND) last week attacked two ships and captured the sailors following a warning to oil companies operating there to withdraw their staff.
MEND also said it had sabotaged two recently repaired pipelines at the weekend and vowed to step up its attacks.
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