Oil edges upward on Nigerian militants' attack

Oil prices edged upward on news that a Nigerian militant group attacked an oil installation yesterday, raising concerns about possible supply outages in Africa's largest oil producer.

Light, sweet crude for July delivery was up 16 cents to $136.84 a barrel on the New York Mercantile Exchange by noon electronic trading in Europe The contract on Wednesday rose $2.67 to settle at $136.68 a barrel.

A leader of the Movement for the Emancipation of the Niger Delta told The Associated Press that militant fighters traveled in boats through heavy seas to attack the Bonga oil field more than 100 kilometers from land. But they were not able to enter a computer control room that they had hoped to destroy.