Crude Gains As Libya Air Strikes Spark Supply Worries

Jerry A. Dicolo
Wall Street Journal
March 21, 2011

NEW YORK—Crude futures rose as air strikes on Libya by the U.S. and its allies over the weekend raised concerns about extended oil-supply disruptions.

Light, sweet crude for April delivery recently traded $1.59 cents, or 1.6%, higher at $102.66 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded $1.57 cents higher at $115.50 a barrel.

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The U.S., France and others moved swiftly to support rebels in eastern Libya after the United Nations authorized intervention Thursday in order to protect civilians. The allies unleashed more than 100 tomahawk missiles this weekend against forces loyal to Col. Moammar Gadhafi and established a no-fly zone over much of the country.

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This article was posted: Monday, March 21, 2011 at 9:15 am

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