Oil Prices Briefly Plummet on False Rumor That Qaddafi Was Shot

Is this how the financial crisis happened?

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Oil prices fell by more than $2 a barrel in late Thursday trading based on rumors that Libyan leader Muammar Qadaffi had been shot. While Reuters says "there was no immediate indication of where the rumor had originated or any news report to substantiate it," CNBC cites the greatest rumor mill ever invented: the Internet.

A U.S. official tells Reuters that the government has no reason to believe that Qaddafi is dead. The ruler has vowed to fight the opposition forces advancing toward Tripoli to his "last drop of blood."




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