Crude oil rose for a fourth day in New York after Chevron Corp. halted part of its Nigerian output and Goldman Sachs Group Inc. increased oil price forecasts. Chevron's unit said yesterday it declared force majeure on onshore wells in the country after a pipeline was breached on June 19, shutting production. Royal Dutch Shell Plc closed the Bonga field in Nigeria June 19 after militants attacked a production vessel at the offshore facility. ``The market is concerned that supplies are still tight,'' said David Moore, a commodity strategist for Commonwealth Bank of Australia Ltd. Crude oil is currently trading at $137.400 as of 8:17 am, GMT.
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