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Investors are sensitive to any sign of upheaval in Saudi Arabia because the OPEC leader has been using its spare capacity to make up for output lost amid the violent uprising against Libya's government. When news broke that Saudi Arabian police fired shots to break up the protest Thursday, prices soared $3 in just 12 minutes. "Our biggest fear has been that the unrest infecting the Middle East would surface as violence or bloodshed in Saudi Arabia," Cameron Hanover said in a report. "If protests start to create martyrs in Saudi Arabia, then it could be the beginning of the end." In other Nymex trading for April contracts, heating oil was down 1 cent at $3.04 a gallon and gasoline dropped 1.5 cents to $3.00 a gallon. Natural gas fell 0.5 cent at $3.83 per 1,000 cubic feet.
[Associated
Press;
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