Oil prices jump on Nigeria concerns

0 Comments | AFP, December, 2006

LONDON (AFP) — World crude prices rose strongly after threats of further attacks to oil facilities in Nigeria and ahead of next week's output meeting by OPEC, analysts said. New York's main contract, light sweet crude for delivery in January, climbed 74 cents to 63.23 dollars per barrel in electronic deals before the official opening of the US market.

In London, Brent North Sea crude for January delivery surged 1.08 dollars to 63.65 dollars in electronic trading Friday. Sucden analyst Michael Davies said there was "concern about further attacks in Nigeria". A militant group in southern Nigeria, notorious for previous hostage-takings, claimed responsibility on Friday for Thursday's attack on an Agip oil facility in which four foreigners were kidnapped and at least one person...