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Oil Prices Top $76 a Barrel

Oil prices rose today after news of new violence in southern Nigeria, where police said a Lebanese businessman was shot dead in his home in an apparent kidnapping attempt, according to the Associated Press.

Kidnappings and oil rig attacks have become common in the southern river delta region of Africa's largest crude producer, where oil giants like Royal Dutch Shell PLC, Exxon Mobil Corp. and Eni SpA have large operations. The assailants range from militants demanding political concessions to criminal gangs seeking ransoms.

Light, sweet crude for August delivery on the New York Mercantile Exchange rose 19 cents to $76.11 a barrel by afternoon in Europe.

Posted by   at 9:50 AM to Oil | Permalink

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