Nigerian unions on Monday suspended a general strike due to start on Tuesday after the government agreed to reduce domestic fuel prices, a union leader said. The threat of a strike in the world's eighth largest oil exporter had offered some support to world oil prices, and U.S. crude slumped by $1.62 to $45.70 per barrel as the threat receded on Monday. "We have decided... to suspend the strike," said Nigeria Labour Congress President Adams Oshiomhole. Unions decided to call off the action at an emergency meeting on Monday night held after the government agreed to reduce gasoline prices by 8 percent to 49 naira per litre. Unions had demanded a 20 percent cut.
