Crude oil prices surged after Iran dialed the threat-o-meter up to 11 with a vow to attack a US aircraft carrier if it returns to the Strait of Hormuz. The US 5th Fleet is likely to take up the challenge.
Reports from Libya are a constant flurry of cities gained and lost by Muammar Qaddafi's forces and rebel troops, and it's hard to keep track if you don't know where these cities are or why they matter. Here's an quick explanation, with cities listed west to east.
Push me too far, and I’ll push global oil prices through the roof, seems to be the message of Col. Muammar Qaddafi as he launches the first strikes on Libya's oil assets.
A rebel position at Libya’s Ras Lanuf came under withering fire today as Muammar Qaddafi’s forces set an oil tank ablaze at a key export terminal.