Crude, Gasoline, Heating Oil at 28-Month Highs: Oil Products
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Crude oil, gasoline and heating oil advanced to 28-month highs as growing violence in Libya added to concern that global supplies will tighten. Ethanol declined.
“The world could deal with the loss of Libyan barrels, but the worry is that it won’t stop at Libya,” said Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis. “We don’t know where this is going to end.”