Crude futures settle at highest since October 2008

SAN FRANCISCO (MarketWatch) -- Crude-oil futures on Tuesday settled at their highest in 28 months as violence in Libya continued and some companies announced a production halt in the country, a top African oil producer and a member of the Organization of Petroleum Exporting Countries. Crude for March delivery(CLH11 93.82, +7.62, +8.84%), the front month contract which expired at the end of the trading day, ended $7.37 higher, or 8.6%, at $93.57 a barrel on the New York Mercantile Exchange. Oil closed at $93.88 on Oct. 3, 2008. The April contract(CLJ11 95.63, +5.92, +6.60%) rose $5.71, or 6.4%, to $95.42 a barrel.

(Source: http://www.marketwatch.com/story/crude-futures-settle-at-highest-since-october-2008-2011-02-22?siteid=rss)