Nigerian uncertainty sends oil price past $52

The price of crude vaulted above $52 today on news that a strike in Nigeria could affect output in the world’s seventh-largest oil exporter, while traders looked for signs of how this week’s US presidential election would affect the market.

Early today in Asia, December crude on the New York Mercantile Exchange was trading electronically at $52.25 a barrel – up 49c from its Friday closing. Prices jumped Friday after two days of falls.