From today's Bloomberg News:

April 21 (Bloomberg) -- Crude oil rose above $117 a barrel in New York after rebel attacks in Nigeria reduced output.

Royal Dutch Shell Plc said an attack last week in Nigeria, Africa's largest oil producer, forced the suspension of 169,000 barrels a day on top of output lost through previous assaults since 2006. OPEC should help ``replenish'' oil inventories because prices are ``too high,'' International Energy Agency Executive Director Nobuo Tanaka said today.

``We are clearly headed over $120 a barrel and we are targeting $125,'' said John Kilduff, vice president of risk management at MF Global Ltd. in New York. ``The last thing we need is another supply disruption. The outage certainly adds to the bullish sentiment.''