Crude futures jumped more than two U.S. dollars a barrel Monday following unrest in Nigeria.
Royal Dutch Shell Plc spokesperson Precious Okolobo said Saturday that attackers hit a flow station belonging to Shell's joint venture in southern Nigeria and that some production facilities had been shut down.
As of 9:50 a.m. EST (1450 GMT), light, sweet crude for June delivery rose 2.25 U.S. dollars to 118.57 dollars on the New York Mercantile Exchange.