Brent crude oil was weaker but off earlier lows in late afternoon trade, as investors watched for developments in the US-led push for Baghdad. By 5.30pm, benchmark Brent crude futures for May settlement were down 28c on the day at USD26.90, compared with USD26.67 in morning trade.
Prices dipped earlier today after Nigeria's central labour movement said it had suspended a strike over pay after reaching an agreement with the government on workers' demands. The strike had threatened to further hit the country's oil production - already curtailed by an estimated 800,000 barrels a day after several oil companies shut down operations from 16 March due to civil unrest. //www.fxcentre.com