Singapore — Crude oil futures rose on Thursday as an attack on a Nigerian oil pipeline and a weaker US dollar buoyed sentiment in the market, lifting prices from five-week lows. Brent crude was trading up 51c, or 1.1%, at $47.37 a barrel by 4.15am GMT. US crude was up 39c, or 0.9%, at $45.73 a barrel. Crude prices were underpinned by concern about supply disruptions after militants in Nigeria’s southern Niger Delta oil hub attacked a pipeline operated by the Nigerian National Petroleum Corporation on Wednesday. "The market is always a little sensitive to [news about supply disruptions]," said Ric Spooner, chief market analyst at CMC Markets. A softer dollar also buoyed prices by making the dollar-denominated oil less costly for importing countries. The dollar slipped for a third session as positioning for next week’s US presidential election overshadowed the Federal Reserve’s latest review, where policy makers signalled they were on track to hike rates in December. Both oil benchmar...
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