Brent crude oil price, which is of interest to Nigeria rose higher by $1.22 from or 1.98 percent, at $62.67 a barrel by 07.44am after trading at $61.45 on Thursday morning.
U.S West Texas Intermediate (WTI) crude was also up to $59.21 a barrel.
Meanwhile, the owner of the titanic ship blocking the Suez Canal apologized on Thursday for bringing one of the world’s most vital waterways to a standstill as the traffic jam stretched into its third day.
Japanese ship-leasing firm Shoei Kisen Kaisha Ltd, in a statement on Thursday said, “We are determined to keep on working hard to resolve this situation as soon as possible.
“We would like to apologizeo all parties affected by this incident, including the ships traveling and planning to travel through Suez Canal.”