Some bad news Nigeria, crude oil price has fallen again

Oil prices stable after two-day decline but rising U.S. output drags

Oil prices fell on Monday on expectations that USA output will rise this year, erasing earlier gains buoyed by lower weekly US rig counts and falling US unemployment. S. data showed the economy in February added the most jobs in more than 1-1/2 years. Rig counts serve as a loose gauge of future production, though the slip has been overshadowed by steady upward revisions to expectations for total US crude oil production.

Brent crude, the benchmark for more than half the world's oil, traded at $65.07 a barrel at 10:11 a.m.in London on Monday, compared with about $45 in June. S. supply against the likelihood that the Organization of the Petroleum Exporting Countries (OPEC) will maintain supply cuts that have been in effect more than a year.

Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production and as the USA economy continues to create jobs, which industry hopes will drive higher fuel demand.

Benchmark 10-year notes last rose 8/32 in price to yield 2.8663 percent.

But the analyst seems to think this might be a fait accompli, because the OPEC deal is giving "market share to the U.S." via a surge in exports to the coveted Asian market, the traditional bastion of Middle East producers - and that this will encourage some nations to retaliate by boosting supply.

"Nothing really stood out", said Goncalves, head of US rates strategy at Nomura Securities International in New York."You can consider that a good thing, given this year will see more and more Treasuries issued".

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MSCI's world equity index .

U. S. stocks closed mixed.

The Nasdaq Composite was up 33.19 points, or 0.44 percent, at 7,594.00.

Emerging market stocks rose 1.21 percent.

The broader trend remained positive for Wall Street's main indexes, which had closed up almost 2 percent on Friday on the strength of the jobs report. Some of the pressure is coming from a recovery in the U.S. Dollar, which could affect foreign demand. The dollar index fell 0.24 percent, with the euro up 0.26 percent at $1.2337.

Oil prices shot up more than 3 percent in Friday trading after oil and gas services company Baker Hughes reported a dip in rig activity in North America.

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