By Mark Shenk Nov. 18 (Bloomberg) -- Crude oil rose as the hijacking of a Saudi Arabian supertanker off the east coast of Africa may cause shippers to divert vessels from the area, delaying deliveries to Europe and the U.S. Pirates directed the Sirius Star, the largest merchant ship ever seized, to the Eyl coastal area to the north of Somalia, the U.S. Navy said today. Prices fell earlier on forecasts that a report tomorrow will show that U.S. crude-oil supplies increased for an eighth week as a recession erodes global demand. Crude oil for December delivery rose 58 cents, or 1.1 percent, to $55.53 a barrel at 9:01 a.m. on the New York Mercantile Exchange. Prices touched $54.13, the lowest since January 2007. Futures have tumbled 62 percent since reaching a record $147.27 on July 11. Brent crude oil for January settlement rose 21 cents, or 0.4 percent, to $52.52 a barrel on London’s ICE Futures Europe exchange. To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net.

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