* Libyan security forces fire shots at Tripoli protesters
* Rebels clash with Gaddafi forces at key oil terminal
* Coming up: CFTC positions data, 3:30 p.m. EST Friday
(Recasts, updates prices and market activity, changes
byline and moves dateline from previous LONDON)
By Robert Gibbons
NEW YORK, March 4 (Reuters) - U.S. crude prices jumped to
their highest since September 2008 on Friday and Brent rose
above $116 a barrel as Libyan security forces cracked down on
protesters in Tripoli and clashed with rebels near the major
oil terminal of Ras Lanuf.
The market was watching out for extended disruptions,
weighing the threat that Libya's key oil sector could become a
target in the revolt, as well as the possibility that the
unrest could spread and impact supplies from other big
producers in the region, such as OPEC's leading oil producer Saudi Arabia.
U.S. crude futures for April delivery <CLc1> rose $1.57
cents to $103.48 a barrel at 11:17 a.m. EST (1617 GMT), after
hitting $104.09, the highest since front-month crude hit
$106.91 on Sept. 29, 2008, eclipsing $103.41 reached on Feb.
24.
Brent crude futures for April delivery <LCOc1> were up
$1.14 to $115.93 a barrel, having earlier reached $116.30.
Brent's premium to its U.S. counterpart <CL-LCO1=R> was
just above $12 a barrel, down about 57 cents from the previous
session and well below last week's record $16.91.
Brent's price rise has been stronger because Europe and the
Brent market is seen as more vulnerable to supply disruptions
from Libya and the region.
"Tension in the Middle East is like a runaway train," said
Michael Hewson, an analyst at CMC Markets. "Once it starts,
it's very difficult to stop. And if there is a danger that it
impacts the supply chain, people will understandably get
nervous."
Libyan security forces fired shots and used tear gas to
disperse a protest against Muammar Gaddafi's regime in the
capital Tripoli. Demonstrators began the protest in the city's
eastern district after Friday prayers. []
Rebels fought forces loyal to Gaddafi on the outskirts of
the key oil terminal of Ras Lanuf as the head of Libya's rebel
council vowed "victory or death." []
Al Jazeera television also reported that an oil facility at
Zueitina, south of Benghazi was damaged and on fire.
[]
Libya's oil output has fallen to 700,000-750,000 barrels
per day (bpd) from normal levels of 1.6 million bpd, according
to Shokri Ghanem, the head of Libya's state-owned oil company,
speaking to Reuters on Wednesday. []
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Reuters Insider show on Libyan oil company head interview:
http://link.reuters.com/jys38r
Graphics showing:
Middle East unrest http://r.reuters.com/nym77r
Oil price shocks http://r.reuters.com/qes28r
Countries most reliant on oil http://r.reuters.com/dux28r
Brent and WTI open interest http://bit.ly/iemiLr
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(Additional reporting by Claire Milhench in London and
Florence Tan in Singapore; Editing by Marguerita Choy)
