Oil supplies tighten, pushing prices higher for third time in four sessions

CRUDE oil rose for the third time in four sessions as war in Iraq and civil strife in Nigeria limit shipments from the countries, which normally produce about 6% of the world’s oil.

US and British military forces are meeting resistance in southern and central Iraq as they move to topple the regime of Saddam Hussein. Iraq may resume oil exports within three months, British Air Marshal Brian Burridge said.

In Nigeria, a production shutdown by Royal Dutch/Shell Group and other companies entered a 10th day.