Silver Surges -- July 4, 2016

Silver --  Reuters:

Silver XAG= spiked 3 percent higher to $20.30 an ounce, breaking the $20-dollar level for the first time in nearly two years.

A big whoop. Except it means my monthly purchases of silver dollars are going to cost me more. 

Oil -- Bloomberg: for a day or so it looked like Nigeria and the rebels had come to terms. There were reports that Nigerian oil production was increasing, or perhaps even returning to normal. Not so fast. Bloomberg now reports that "Nigeria militants renew attacks."

September futures rose as much as 0.8 percent in London after advancing 1.3 percent Friday. The Niger Delta Avengers said they attacked five crude-pumping facilities overnight Sunday, after two people were killed on June 29 when gunmen opened fire on a boat of Eni SpA workers in the Niger River delta. Shale drillers in the U.S. brought back the most oil rigs of any week this year as confidence in a stabilized market prompts talk of expansion.

I suppose the Niger Delta Avengers could become an ISIS expansion team, opening up the African Conference.