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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap New York crude oil soars 8.5% on Libya crisis AFP - Wednesday, February 23 Send IM Story Print New York crude oil soars 8.5% on Libya crisis NEW YORK (AFP) - – New York crude prices soared more than eight percent Tuesday amid rising violence in Libya, the first major Arab oil exporter to be rocked by political turmoil sweeping the Middle East. New York's WTI light sweet crude for March delivery closed at $93.57 a barrel, a gain of $7.37, or 8.5 percent, from Friday's close. There was no settlement Monday on the New York Mercantile Exchange due to the Presidents Day public holiday. The price spike came after Libyan leader Moamer Kadhafi on Tuesday ordered his forces to crush an uprising that has rocked his 41-year rule, warning armed protesters that they will be executed. Denying widespread reports that army, police and militias had killed unarmed demonstrators indiscriminately in the past week, Kadhafi said "we have not yet used force." However, he said, "if the situation worsens we will use it in line with international law and Libya's constitution." Libya is Africa's fourth-largest crude producer after Nigeria, Algeria and Angola, with production of 1.8 million barrels per day. Facts: Libya, Africa's fourth largest oil producer Recommend Send IM Story Print News Search Top Stories Japan logs first trade deficit in almost two years Baby dolphins dying along oil-soaked US Gulf Coast 10 percent global rise in biotech crops: study Libya live report Oil prices soar amid Libya crisis More Top Stories » ADVERTISEMENT Most Popular Most Viewed Oral sex linked to cancer risk Machu Picchu victim of own success: UN Social media, cellphone video fuel Arab protests Planet could be 'unrecognizable' by 2050, experts say Libya live report More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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