Oil prices hit three and a half month highs as attacks in Nigeria continue

18-Jan-06

As militants threatened to use more aggressive tactics against Nigeria's oil workers and their families from Feb 1, US crude surged by over 2% to US$65.53 a barrel. This increase in aggression threatens to cut deeper into supplies from the world's eighth biggest exporter have sent world oil prices to a three and half-month high. London Brent crude rose to US$63.87 . The country's biggest foreign operator, Royal Dutch Shell, has already evacuated staff from some facilities and scaled back output as violence escalated over the past week.