Oil Jumps to 31-Month High on Concern About Al-Qaeda Reprisals
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Crude oil jumped to the highest price since September 2008 amid concern that the death of al-Qaeda leader Osama bin Laden will spur retaliatory attacks and disrupt supplies.
Oil climbed as much as 0.8 percent after dropping the most in almost three weeks in New York after President Barack Obama said U.S. forces killed bin Laden in a firefight yesterday in Pakistan. Stocks rose, pushing up the Standard & Poor’s 500 Index for a fifth day.