Oil Advances a Fourth Day in New York on Libya, Mideast Unrest
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Oil advanced for a fourth day in New York as NATO escalated its air campaign over Libya and on concern unrest may spread to other energy-exporting countries in the Middle East.
Futures rose as much as 0.6 percent today after warplanes from the North Atlantic Treaty Organization destroyed Libyan government tanks around the cities of Ajdabiya and Misrata. A Syrian army officer was killed as protests spread across the country. Unrest has toppled leaders in Egypt and Tunisia and spread to Bahrain, Yemen and Oman.