Oil Prices Rise 9% In A Day

Mounting concerns over Libya’s violent crisis weighed on stocks Tuesday and sent oil prices surging, while the earthquake in the New Zealand city of Christchurch pushed the country’s currency sharply lower.

With deep rifts opening up in Moammar Gadhafi’s regime, air force pilots defecting and a bloody crackdown in the capital of Tripoli, investors are fretting over how the crisis will end and what the impact on the North African country’s oil production will be.

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