Oil hits 2016 high on U.S. draw forecasts, Nigeria worry

Fuel prices are displayed at a Kazakh state-owned oil and gas company KazMunayGas gas station in Almaty, Kazakhstan, May 4, 2016.

USA/NIGERIA: Oil prices hit 2016 highs on Tuesday, with U.S. crude settling above $50 a barrel the first time in almost a year, on expectations of domestic stockpile draw and worries about global supply shortfalls from attacks on Nigeria's oil industry.

U.S. crude stockpiles likely fell by 2.7 million barrels last week to mark a third straight week of declines, an updated Reuters poll showed.[EIA/S]