
Shell Petroleum Development Company declared force majeure on Bonny light crude exports on Tuesday, after closing the Nembe creek trunk line, which carries all the country’s crude, for repairs, after a leak.
The outage pushed oil futures higher, with benchmark brent crude trading 3.49% at 47 dollars 11 cents per barrel.
Nigeria was due to export around 217,000 barrels of Bonny light crude in June, from a total of 1.7 million barrels per day.