World crude oil prices saw a rise of over one dollar as 20% of Nigerian oil production was halted by rebel attacks. New York's main contract, light sweet crude for delivery in March rose to US$61.10 per barrel in pit trading. In London, the price of Brent North Sea crude for April delivery rose to US$61.60 per barrel.
Nigerian officials are negotiating the release of nine foreign workers being held as "human shields" by rebel fighters. The recent attacks have forced Shell to halt the flow of about 455,000 bpd, less than 1% of the total global demand.
22-Feb-06 
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