Bloomberg – Hedge funds raised bullish oil bets to a record as violent clashes in Libya curbed output from Africa’s third-largest producer, driving crude to $100 a barrel for the first time in more than two years.
Muammar Qaddafi’s standoff against Libyan rebels and the threat of escalating violence is pushing European oil producers to the lowest against the price of crude since the bankruptcy of Lehman Brothers Holdings Inc. in 2008.
