Investing.com - Oil was stable at higher levels early Monday on more disruption to supplies in Nigeria.
U.S. crude was up 13 cents, or 0.27%, at $49.12 at 06:45 ET, while Brent crude was up 0.32% at $50.51.
Militants claimed responsibility for further attacks on Nigeria’s oil infrastructure.
Trading was subdued due to the Independence Day holiday in the U.S.
Saudi’s energy minister expects supply and demand to be in alignment in 2017.
Baker Hughes data Friday showed a rise of 11 in the number of oil rigs operating in the U.S. to 341.
The U.S. rig count has risen in four of the past five weeks.
The dollar index was flat. A lower dollar supports demand for oil.