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Title: Gadhaffi has been shot?
Source:
Kitco
URL Source: http://www.kitco.com/reports/KitcoNews20110224JW_upd2.html
Published: Feb 24, 2011
Author: Jim Wyckoff
Post Date: 2011-02-24 15:37:50 by TwentyTwelve
Keywords: Gadhaffi, shot
Views: 682
Comments: 38
Gold Sells Off Sharply as Crude Oil Declines 24 February 2011, 03:14 p.m. By Jim Wyckoff Of Kitco News (Kitco News) - Comex gold futures have sold off sharply in afternoon trading Thursday, dropping in tandem with a decline the crude oil futures market. April Comex gold last traded down $14.80 an ounce at $1,399.20. Crude oil has sold off on rampant rumors regarding Libyan leader Moammar Gadhaffi. One rumor circulating in the crude oil market is that Gadhaffi has been shot. The rumors have not been confirmed as fact. Crude oil has dropped sharply from its daily high of $103.41 and has fallen below the psychological $100.00-a-barrel level. If there is a perceived easing of the Middle East tensions in the market place, then crude oil prices would continue to decline and that would continue to be a bearish near-term development for the gold market. By Jim Wyckoff of Kitco News; jwyckoff@kitco.com
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Oil Prices: Oil Settles Near $97 on Rumors Gaddafi Shot - CNBC Published: Thursday, 24 Feb 2011 | 3:44 PM ET By: Reuters with CNBC.com Oil dropped sharply following Saudi Arabia's assures it could fill any Libyan supply shortfalls and unconfirmed rumors Libyan leader Muammar Gaddafi had been shot. A senior U.S. official told NBC News the U.S. government had no reason to believe that the Libyan leader is dead. However, the rumor swept through oil markets and sent prices tumbling more than $2 a barrel in late Thursday trade. Oil markets had earlier eased on news top OPEC exporter Saudi Arabia was in talks with European refiners affected by the disruption. Traders have been on edge on concerns the unrest sweeping across Northern Africa could spread to other oil-producing countries. Copyright 2011 Thomson Reuters
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Gaddafi: Barakeh Obama is friend
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