Israel crisis hits world markets

Israel crisis hits world markets: "Meanwhile, reports of two explosions at a pipeline run by Italy's Agip in Nigeria added to investor worries.

The Italian firm denied that the blasts in Nigeria's Bayelsa state were the result of sabotage.

However, the incident comes as almost a quarter of normal oil output in Africa's largest oil producer has been shut down because of rebel attacks.

'Geopolitical risk is out of control,' said Mitsubishi risk manager Tony Nunan. 'There's a pipeline attack in Nigeria, Israel is taking a strong stance and that's adding fuel to the fire.'"

(Via BBC News.)