Energy Finance

While oil prices reached a new trading high of  $129 per barrel in electronic pre-opening trading on the Nymex today, additional price pressure may be coming from an unexpected source.

A wage strike in Norway closed more than six airports, limiting transportation of personnel to and from oil platforms on the Norwegian continental shelf. The dispute shut down Bergen, Sola and Kristiansund airports, among others.

StatoilHydro, which produced an average 1.89 million barrels of oil equivalent per day in first quarter 2008, is “working to establish alternative routes to platforms, including operating additional flights from Stord airport,” according to news reports.

While reports from ExxonMobil Corp. and BP Plc say the strike has not affected their operations in the area, ConocoPhillips spokesman Ingvar Solberg said Monday the company might be forced to shutdown production at its 400,000-barrel-per-day Ekofisk field if the strike continues.

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