Oil Prices Jump After Attack on Offshore Field

Oil traded at nearly $137 a barrel Thursday morning after Royal Dutch Shell shut down production on an oil field off the coast of Nigeria. The field, which normally produces nearly 200,000 barrels of crude daily, was attacked by militants. Shell says it doesn't know how long it will suspend production.

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RENEE MONTAGNE, host:

NPR's business news starts with an oil field under attack.

Oil prices are up and that rise came after one big oil company shut down production off the coast of Nigeria. The Royal Dutch Shell oil rig was attacked by militants. It normally produces nearly 200,000 barrels of crude oil a day. The shutdown has added to fears about supply in world markets. Shell says it doesn't know how long it will suspend production. Nigeria is Africa's largest oil producer and violence around its oil fields is common, but analysts say it's rare for offshore facilities to come under attack.

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