Blood and oil in Nigeria

Just as things seemed to be calming down in the delta region of Nigeria after a spate of kidnappings and insurgent attacks, the militant group calling itself the Movement for the Emancipation of the Niger Delta – MEND – announced last week to all who would listen that it was planning new violence against oil facilities in the region. Apparently unconcerned about tipping its hand to the authorities, MEND even gave a date for the start of its new campaign: April 25.

The guerrillas could not have hoped for a better reaction. Crude oil prices immediately jumped on the news, hitting $70 a barrel, as new fears about a supply squeeze hit the global oil market. Adding to the concern is that the latest message, sent to various news organizations, seems a lot angrier and more violent than previous missives. The references to endless buckets of blood sounded more like an Al Qaeda rant than a threat from oil-market saboteurs.

IHT