Gaddafi Launch Land And Air Attacks

U.S. crude oil futures hit the highest settlement in nearly 2-1/2 years on Wednesday as
fighting in Libya intensified, raising more worries unrest could
spread to other oil producers in the Middle East and
North Africa.

Libyan leader Muammar Gaddafi launched a land and air
offensive to retake territory in Libya's east and later warned there will be a "bloody war" if the Unites States or other foreign powers such as NATO intervene.

A Libyan warplane dropped a bomb near an oil exporting
terminal in the eastern port of Brega, helping extend the day's
gains. Rebels warned foreign military help might be needed to
"put the nail in (Gaddafi's) coffin" and end his long rule