Crude oil prices decline

Despite continuing worries about supply disruptions in Nigeria after a new attack on a pipeline there, crude oil prices were down as US crude inventories were close to seven-year highs.  In late afternoon trade on the International Petroleum Exchange in London, Brent crude May contracts dropped $1 to $62.26 per barrel, while West Texas Intermediate crude on the New York Mercantile Exchange lost $1.47 to $61.30 per barrel in early afternoon trade.  With the April contract due to expire at the end of the day on Tuesday, May WTI was down $1.20 to $63.00 per barrel.