Crude oil futures stayed above 55 dollars a barrel today over fears of a heating oil shortage before an expected cold Northern Hemisphere winter.

Nigeria’s main oil workers union threatened to shut down the country’s oil industry as a nationwide general strike entered its third day today.

Striking Nigerian workers will release hundreds of hostages they have been holding on oil rigs off the west African nation’s shore, negotiators said tonight

Nigerian warships and helicopters were preparing today to rescue 97 foreigners being held hostage on offshore oil rigs.

TALKS between Nigerian unions and a US oil firm on ending the occupation by strikers of four oil rigs where 97 foreign workers are trapped ended in deadlock yesterday, union leaders said.