RealNews

Nigeria attacks raise oil prices

Oil prices rose by $1.46 a barrel on Monday, after fresh violence cut production in Nigeria, the world’s eighth largest exporter. Nigeria’s oil exports fell by 15% after militants kidnapped nine foreign workers and again attacked facilities in the Niger Delta over the weekend. With the militia now promising more violence, analysts fear such attacks could continue for at least a year. The price of Brent crude was up $1.46 to $61.35 a barrel in afternoon trade. There was no movement to the benchmark US light crude, as the New York Mercantile Exchange is closed on Monday for the US President’s Day holiday. Full Story

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