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				Oil breaks Benjamin threshold again
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					Posted: 
					
						Mar 3, 2011 11:24 AM
					
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					Last Updated: Mar 27, 2012 08:34 AM
				
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				<p>NEW YORK -- Oil once again beached the $100 mark yesterday after <a target="_blank" href="http://www.todaystrucking.com/news.cfm?intDocID=25733"><span style="color: rgb(0, 0, 255); ">having crossed the threshold</span></a> last week for the first since October 2008.</p>
<p><a target="_blank" href="http://calgary.ctv.ca/servlet/an/local/CTVNews/20110303/libya-gadhafi-protests-fighting-110303/20110303/?hub=CalgaryHome "><span style="color: rgb(0, 0, 255); ">Escalating violence</span></a> in oil-producing Libya and increasing demand in the U.S. were blamed.</p>
<p>Libya produces only 1.6 million barrels of oil per day, about 2 percent of global demand, but the disruption is putting pressure on world supplies.</p>
<p>The International Energy Agency said Wednesday that up to 1 million barrels per day were shut down</p>
<p>Since the uprising in Libya and other Mid East and North African countries began in mid-February, oil prices have shot nearly $17 per barrel, and diesel has increased more than 30 cents a gallon.</p>
<p>The national average diesel price in the U.S. is $3.768.</p>
<p>In Canada, diesel is averaging about 1.22 a liter, up about 10 cents from a month ago. &nbsp;</p>
			
				
				
			
				
				
			
			
			
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