Crude oil jumps 6% as Libya protests spread

Crude oil prices jumped 6% Monday as violent protests spread in Libya, raising the possibility that oil supplies from that OPEC nation could be disrupted.

 http://www.usatoday.com/money/industries/energy/2011-02-21-oil-prices_N.htm

 more:

http://www.11alive.com/news/local/story.aspx?storyid=178787&catid=3

 

As BP Prepares To Evacuate Staff From A Burning Libya, Commodities Are Exploding

As events in Libya overnight spiraled out of control, with dozens if not hundreds killed, the parliament building in Tripoli on fire, and output at one of the country's oil fields reported to have been stopped by a workers' strike, BP has said it will soon begin evacuating  some of its personnel from the 9th largest producer of oil. And just to complete the total chaos, Iran warships are now going to pass the Suez on Tuesday instead of today, to the full glory of a fully open US stock market. The result: gold over $1,400; silver over $33.50; Crude front month over $93; Brent over $105; etc. Luckily, the US stock market is closed, meaning all this will be "priced in" by tomorrow, and the HFT levitation can resume tomorrow as if today never happened...

http://www.zerohedge.com/article/bp-prepares-evacuate-staff-burning-libya-commodities-are-exploding