Nigeria Fears Push Oil Over $76

Oil prices are surging past $76 a barrel due to growing concerns that unrest in Nigeria will hit exports. The kidnap of a three year old British girl this week has been seen as an escalation of the violence that has plagued the oil rich Delta region. High oil prices may fuel inflation and dent consumer spending according to analysts. Brent crude reached a record high of $78.30 last August when the conflict between Israel and Lebanon was at its height.