http://www.reuters.com/article/2011/03/02/us-markets-oil-idUSTRE71192R20110302
(Reuters) - Oil rose to settle at its highest level ($102) since August 2008 on Wednesday after an airstrike near Libya’s oil infrastructure raised more fears the OPEC nation’s oil sector could become a target in embattled leader Muammar Gaddafi’s efforts to hold power.
News of the strike in Brega, about kilometers (1.2 miles) from a Libyan oil terminal, added to two weeks of fears the unrest could spill over into other large oil producers in the region.
Oil markets remained focused on the turmoil in the Middle East, which could signal another threat to global oil supplies after the Libyan revolt cut exports.
“It looks like an attack fairly close to what is one of Libya’s largest storage and export terminals,” said Andy Lebow, trader at MF Global in New York.
Libyan warplanes bomb oil refinery, port town as fighting rages between pro-Gadhafi forces, opponents http://bit.ly/dL9EFf
31 minutes ago via breakingnews.com
more seriousness and the old presses the new.
http://www.politico.com/politico44/
CARNEY AND ZIENTS (AND OBAMA) BRIEF — WATCH LIVE: President Obama is “aware of the impact the spike in oil prices can have on gasoline prices,” White House press secretary Jay Carney tells reporters.
“We remain confident that the global system has the capacity to deal with disruptions in the oil supply,” he adds. “In terms of who is in charge of this issue, clearly our NEC director, Gene Sperling, focuses on this very closely.” (1:45 p.m.)
Thanks mom for the updates. This is going to go on for a long time by all indications.
U.S. assault ships clear Suez, enter Mediterranean ( Heading for Libya )
I just heard on the radio that a Qaddafi air attach on an eastern oil port has taken place. Apparently repelled by the protestors. I don’t know if it was the city already reported or a new attach. One thing, attacking oil infrastructure will probably motivate more concrete action by Europeans.