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HOLLYWOOD
02-24-2011, 03:22 PM
Libya erupts as Gaddafi clings on - live updates

http://www.guardian.co.uk/world/blog/2011/feb/22/libya-erupts-gaddafi-live-updates


http://www.guardian.co.uk/news/datablog/interactive/2011/feb/22/libya-comment

Rumor: Has Libyan Dictator Muammar Gaddafi Been Shot And Killed?
http://www.mediaite.com/online/rumor-has-libyan-dictator-muammar-gaddafi-been-shot-and-killed/


4:04 pm, February 24th, 2011

http://static01.mediaite.com/med/wp-content/uploads/2011/02/Moammar-Gaddafi.jpg (http://static01.mediaite.com/med/wp-content/uploads/2011/02/Moammar-Gaddafi.jpg)

Need to know just how connected the uprising in various North African countries are tied to the U.S. economy? Oil prices dropped sharply today (http://www.cnbc.com/id/41747049) amid unconfirmed rumors that Libyan leader Muammar Gaddafi had been shot and killed. Prices came back shortly after Saudi Arabia had assured Western markets that it could fill any Libyan supply shortfalls brought about by Gaddafi’s presumed death, but it appears to be a false rumor.
Reuter’s report however that rumors are not true (http://www.reuters.com/article/2011/02/24/libya-usa-gaddafi-rumor-idUSWAT01490220110224):
The U.S. government has no reason to believe that Libyan leader Colonel Muammar Gaddafi is dead, a U.S. official said on Thursday after oil traders cited a rumor that Gaddafi had been shot as pushing down oil prices.
Asked if Washington had reason to believe that Gaddafi, who is seeking to crush protests against his 41-year rule in the oil-exporting North African nation, was dead, the U.S. official, speaking on condition of anonymity, said: “No.”
Gaddafi appears to have thus far survived the upheaval, but if the situation in Libya is in any way like the situation that recently unfolded in Libya, it may just be a matter of time. Earlier today we reported (http://www.mediaite.com/online/gaddafi-blames-unrest-in-libya-on-osama-bin-laden/) that Gaddafi had blamed the uprising in Libya on Osama bin Laden before adding that it up to the Libyan people to stop fighting among themselves and to cease “taking hallucinogenic drugs.”
But as far as we know right now, Gaddafi is still alive.

gls
02-24-2011, 03:31 PM
If only. Unfortunately I'm sure he's smart enough to keep anyone in a position to do him harm very fat and happy.

SWATH
02-24-2011, 03:35 PM
The same kind of rumor came out about Mubarak shortly after the riots started.

HOLLYWOOD
02-24-2011, 03:37 PM
Crude Oil Plunging on the Rumors...

http://www.businessinsider.com/oil-just-plunged-capping-a-crazy-12-hours-in-crude-ville-2011-2

Oil Just Plunged, And There's An Unfounded Rumor Going Around That Qaddafi Was Shot

Joe Weisenthal (http://www.businessinsider.com/author/joe-weisenthal) | Feb. 24, 2011, 2:44 PM | 2,990 | http://static2.businessinsider.com/assets/images/icons/icon_comment_12x12.gif (http://www.businessinsider.com/oil-just-plunged-capping-a-crazy-12-hours-in-crude-ville-2011-2#comments) 22 (http://www.businessinsider.com/oil-just-plunged-capping-a-crazy-12-hours-in-crude-ville-2011-2#comments)




Update 3: Reuters (http://twitter.com/Reuters/statuses/40860184196812800) says government officials have no reason to believe Qaddafi is dead.
Update 2: We're giving this almost no credibility. But there's this rumor based on nothing going around that Qaddafi was shot. But hey, even Reuters mentioned it (http://twitter.com/REUTERSFLASH/statuses/40858444680400896).
Update: This might have something to do with it. Democrats have asked Obama (http://politics.blogs.foxnews.com/2011/02/24/group-house-democrats-urges-obama-open-strategic-petroleum-reserve) to open the strategic petroleum reserve.
Original post: All kinds of weird stuff happening right now. Commodities generally are tanking.
Oil just got crushed and is now down on the day!
Check out what 12 hours in crude-ville looks like.
http://static2.businessinsider.com/image/4d66af9849e2aee024010000/chart.jpg



Tags: Oil (http://www.businessinsider.com/category/oil) | Get Alerts for these topics » (http://www.businessinsider.com/oil-just-plunged-capping-a-crazy-12-hours-in-crude-ville-2011-2#)

EvilEngineer
02-24-2011, 06:02 PM
My bet is in on an oil speculator made the "rumor" and then preceded to sell off their futures.

Watch for a massive purchase right before the "rumor" is proven false as oil prices jump right back up.