Rumors That Libya's Muammar Gaddafi Was Dead Swept Through The Markets This Afternoon

Oil Settles Near $97 on Rumors Gaddafi Shot -- CNBC

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.

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My Comment: It looks like he is still alive .... but for a moment .... some believed he was dead ... and the markets loved that idea.