SINGAPORE (AP) - Oil prices zoomed to nearly $102 a barrel Thursday in Asia as chaos in Libya disrupted crude supplies from the OPEC nation, and traders worried instability could spread to oil-rich countries in the Middle East.
Benchmark crude for April delivery was up $3.55 at $101.65 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract, which has soared about 20 percent since last week, jumped $2.68 to settle at $98.10 on Wednesday.
In London, Brent crude for April delivery vaulted $5.74 to $116.99 a barrel on the ICE Futures exchange.
Libyan leader Moammar Gadhafi's grip on power slipped further as rebels took control of much of the eastern part of the country and advanced around Tripoli, the capital. Two air force pilots parachuted out of their warplane and let it crash into the eastern Libyan desert rather than follow orders to bomb an opposition-held city.
The mayhem has disrupted crude exports from Libya, which produces about 1.6 million barrels of crude per day and has the biggest oil reserves in Africa...
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