Oil prices surge 6 percent as Libya protests mount

AP News
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Posted: Feb 22, 2011 3:28 PM
Oil prices surge 6 percent as Libya protests mount

Oil prices jumped Tuesday as violence spread in Libya. Only a small amount of Libya's oil production appeared to have been affected, though analysts fear that revolts will spread to OPEC heavyweights like Iran.

Here's a breakdown of how energy prices traded Tuesday:

On the New York Mercantile Exchange:

Crude: jumped $5.71, or 6.4 percent, to settle at $95.42 per barrel;

Gasoline: gained 5.63 cents to settle at $2.7464 a gallon;

Heating oil: rose 7.75 cents to settle at $2.8035 a gallon;

Natural gas: lost about a penny to settle at $3.867 per 1,000 cubic feet.

On the ICE Futures exchange:

Brent crude: added 4 cents to settle at $105.78 per barrel.