Wednesday, February 23, 2011

Oil hits $100 a barrel on unrest in OPEC's Libya

Oil hits $100 a barrel on unrest in OPEC's Libya - CBS News

Oil prices hit $100 per barrel Wednesday as forces loyal to Libya's Moammar Gadhafi clashed with protesters expanding their control over parts of that OPEC nation.

In afternoon trading benchmark West Texas Intermediate crude for April delivery was up $3.48or 3.7 percent, at $98.90 per barrel on the New York Mercantile Exchange. Prices climbed as high as $100 earlier in the day, hitting triple digits for the first time since Oct. 2, 2008. WTI has jumped 18 percent since Valentine's Day.

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