Summary Box: Libya violence benefits safer assets

AP News
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Posted: Feb 22, 2011 5:07 PM
Summary Box: Libya violence benefits safer assets

FALLING GRAINS: Wheat, corn and soybeans fell sharply on concerns that rising oil prices may diminish demand for the food products in developing countries.

MIXED METALS: Gold and silver benefited for their appeal as stable places to park money with violence escalating in Libya. Copper, platinum and palladium all fell on worries about declining demand.

OIL SPIKE: Oil hit its highest level in more than two years, settling at $95.42 a barrel. Traders are uncertain whether oil supplies may be disrupted because of the unrest in North Africa and the Middle East.