This from Bloomberg:

Royal Dutch Shell Plc said a militant attack on a pipeline has cut as much as 169,000 barrels a day of Nigeria’s Bonny Light crude production as rebels claimed responsibility for two more strikes today.

Crude futures contracts in New York have hit fresh highs of $117+ a barrel on the news of the attacks. Crude oil prices climbed to a new record after Shell said exports would be cut — the highest since futures started in 1983.

It takes a big man to admit when he’s wrong – and, when it comes to the oil business, there doesn’t come any bigger than T Boone Pickens.