Oil Rebounds on Nigerian Violence

Updated from 12:32 p.m. EDT

Crude futures shook off an early drop to end up in the plus column Wednesday sparked by violence in Nigeria.

Light, sweet crude for November delivery rose 73 cents to settle at $59.41 a barrel on the New York Mercantile Exchange. Heating oil rose 2.31 cents to $1.677 a gallon and unleaded gasoline gained 4.11 cents to $1.4978 a gallon. Natural gas futures rose 23.6 cents to settle at $5.995 per million British thermal units.

The Associated Press reported that armed men attacked a convoy in Nigeria's oil-rich southeastern delta. Brig. Gen. Alfred Ilogho said the convoy was carrying supplies for Agip, a subsidiary of Italian oil company ENI SpA, AP reported. ...