Oil Rises as Nigeria's Government Fails to Reach an Accord to End Strike

(Bloomberg) -- Crude oil rose after the government
of Nigeria failed to reach an agreement with unions to end a
three-day-old general strike in the largest oil-producing country
in Africa.

Yesterday, oil unions withdrew workers from export terminals
in a bid to halt shipments and intensify pressure on the new
administration of President Umaru Yar'Adua. About a third of the
nation's output was already halted by political and criminal
violence. The strike comes during the summer driving season, when
U.S. fuel consumption peaks.


Read more at Bloomberg Energy News