Nigeria output rose, U.S. East Coast gasoline stocks climb Three attacks hit Saudi cities of Qatif, Jeddah, Medina Brent crude dropped below $50 a barrel, sinking in tandem with equity markets, amid signs that global oil supplies remain plentiful. Futures dropped as much as 2.5 percent in London, extending Monday’s 0.5 percent loss, as the Stoxx Europe 600 Index slid 1.4 percent. Nigerian crude production rose last month following repairs to infrastructure that had been damaged by militant attacks, a Bloomberg survey showed, while supplies of gasoline on the U.S. East Coast reached a record , the Energy Information Administration said. Brent crude has risen more than 75 percent from a 12-year low in January amid supply disruptions and falling U.S. output. American shale drillers have brought back the most oil rigs of any week this year amid expectations of a stabilizing market. “Two things are currently weighing on […]