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Oil prices rise on Nigeria, Venezuela disruptions

Oil prices edged up in early trading on Monday as output falls in Nigeria and worries about political instability in Venezuela tightened the market, although rising OPEC output and a stronger dollar capped gains.

International Brent crude futures were trading at $48.11 per barrel at 0148 GMT, up 28 cents, or 0.6 percent, from their last settlement.

U.S. West Texas Intermediate crude futures were up 25 cents, or 0.5 percent, at $46.46 a barrel.

Analysts said that falling supplies from producers such as Nigeria, the Americas and China had pushed up prices, although they added that increases elsewhere were capping gains.

"Oil struggled to hold gains from the previous day as the return of output from Canadian producers negated (production)losses," said ANZ bank.

In Nigeria...