Oil up as Nigerian rebels strike

Oil prices rose by nearly four per cent yesterday, on the back of news of fresh rebel attacks on oil installations in Nigeria, coupled with gains in the equity markets. Nigeria’s largest group of militants said its rebels had attacked a Royal Dutch Shell oil facility in the Niger Delta. The attack comes just days after President Umaru Yar’Adua suggested an amnesty. London Brent crude finished up $2.18, or 3.2 per cent, at $71.10.