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	<title>Contrarian Stock Market Investing News - Featuring Bargain Stocks &#187; Nigerian politics</title>
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		<title>Oil Up as Rebels Disrupt Nigeria Output</title>
		<link>http://www.contrarianprofits.com/articles/oil-up-as-rebels-disrupt-nigeria-output/18128</link>
		<comments>http://www.contrarianprofits.com/articles/oil-up-as-rebels-disrupt-nigeria-output/18128#comments</comments>
		<pubDate>Fri, 19 Jun 2009 17:30:49 +0000</pubDate>
		<dc:creator>Contrarian Profits</dc:creator>
				<category><![CDATA[Financial News]]></category>
		<category><![CDATA[Oil Investment & Alternative Energy]]></category>
		<category><![CDATA[Crude Oil Prices]]></category>
		<category><![CDATA[Economic Recession]]></category>
		<category><![CDATA[London Brent Crude]]></category>
		<category><![CDATA[Nigerian politics]]></category>
		<category><![CDATA[Oil Industry]]></category>
		<category><![CDATA[Oil Markets]]></category>
		<category><![CDATA[Opec]]></category>
		<category><![CDATA[Political Turmoil]]></category>
		<category><![CDATA[Rebel Attacks]]></category>
		<category><![CDATA[Royal Dutch Shell]]></category>

		<guid isPermaLink="false">http://www.contrarianprofits.com/?p=18128</guid>
		<description><![CDATA[<p>Oil prices rose for the third consecutive day on Friday, nearing $72 a barrel, as rebel attacks in Nigeria hit output from the OPEC-member country and economic optimism propelled equities markets higher.</p>
<p>U.S. crude rose 49 cents to $71.76 a barrel by 1515 GMT, having topped $72 earlier. London Brent crude gained 45 cents to $71.51 a barrel.</p>
<p>Nigeria&#8217;s main militant group MEND said Friday it had attacked a pipeline operated by Italy&#8217;s Agip , close on the heels of previous attacks on facilities operated by Royal Dutch Shell and Chevron . Together, the attacks have cut at least 133,000 barrels of daily output.</p>
<p>Rebels in Nigeria, the world&#8217;s seventh-largest oil exporter, have been carrying out attacks on the oil industry for years in what they claim is&#8230;</p>]]></description>
			<content:encoded><![CDATA[<p>Oil prices rose for the third consecutive day on Friday, nearing $72 a barrel, as rebel attacks in Nigeria hit output from the OPEC-member country and economic optimism propelled equities markets higher.<span id="more-18128"></span></p>
<p>U.S. crude rose 49 cents to $71.76 a barrel by 1515 GMT, having topped $72 earlier. London Brent crude gained 45 cents to $71.51 a barrel.</p>
<p>Nigeria&#8217;s main militant group MEND said Friday it had attacked a pipeline operated by Italy&#8217;s Agip , close on the heels of previous attacks on facilities operated by Royal Dutch Shell and Chevron . Together, the attacks have cut at least 133,000 barrels of daily output.</p>
<p>Rebels in Nigeria, the world&#8217;s seventh-largest oil exporter, have been carrying out attacks on the oil industry for years in what they claim is a struggle aimed at spreading the region&#8217;s energy wealth to the poor local communities.</p>
<p>Oil prices also got support from political turmoil in Iran, the world&#8217;s fifth largest exporter, in the wake of its presidential election.</p>
<p>&#8220;We will see support continue to come from Iran and Nigeria. There is no immediate supply threat from Iran but in Nigeria, (there) is an actual physical disruption,&#8221; oil analyst Olivier Jakob of Petromatrix said.</p>
<p>Analysts said gains on Wall Street, fed by optimism that the worst of the economic recession was over, encouraged commodity buying by brightening the outlook for demand.</p>
<p>Oil prices have nearly doubled since February on signs of a potential economic recovery but the pace of the rally has sparked concerns prices are not well supported by fundamentals.</p>
<p>Adding to optimism in oil markets, the U.S. Transportation Department said on Friday Americans drove more miles in April than they did a year earlier, marking the first monthly rise in U.S. highway travel in more than a year.</p>
<p>NEW YORK, June 19 (Reuters)</p>
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