Anybody seen a spot price spike after the Niger Delta attacks?

[phantom power]

I assumed this would drive the oil markets batshit crazy, but so far I'm not seeing it.

[ret5hd]

1. caused a bit of a spike in gold/silver

[Tace]

2. Crude Oil Jumps After Rebel Attacks Cripple Nigerian Exports

Feb. 20 (Bloomberg) -- Crude oil climbed the most in a month in London after rebel attacks in Nigeria cut output from Africa's largest producer by 19 percent, reviving concern OPEC has little room to make up for a series of disruptions.

Brent crude oil for April settlement rose as much as $1.74, or 2.9 percent, to $61.63 a barrel, its highest since Feb. 9. It was up $1.57 at 4:02 p.m. on London's ICE Futures exchange.

Royal Dutch Shell Plc stopped pumping 455,000 barrels a day in Nigeria, or 1.5 percent of OPEC's output, after militants set fire to an export terminal and kidnapped nine foreign oil workers two days ago. The rebels today reported new assaults on a pipeline, threatening to spread their offensive to the entire Niger river delta. Nigeria pumps about 2.8 percent of the world's oil.

``The fear with Nigeria is that you've got elections coming up next year and that's leading to the possibility of an upsurge in violence,'' said Michael Lewis, the head of commodities research at Deutsche Bank AG in London. The uprising isn't ``going to be a one- off event. OPEC isn't in a very strong position to respond to a round of successive disruptions.''

more

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aodFykx7dbYY&refer=home

[IDemo]

3. Oil leaps $1.50 after Nigeria attacks hit output

http://business.scotsman.com/latest.cfm?id=265122006

By Janet McBride

LONDON (Reuters) - Oil leapt $1.50 on Monday after Nigerian rebels bombed pipelines and a major tanker terminal over the weekend, knocking out 19 percent of supplies from the world's eighth biggest crude exporter.