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Libya unrest keeps world share markets on edge
KELVIN CHAN - The Associated Press

04:59:53AM(ET) Thursday,February 24,2011.

HONG KONG (AP) — World shares were mostly lower Thursday as surging oil prices, violence in Libya and a weak finish on Wall Street kept markets on edge.

Oil prices zoomed above $101 a barrel as chaos in Libya disrupted crude supplies from the OPEC nation, and traders worried instability could spread to oil-rich countries in the Middle East. A sustained jump in the oil price would knock consumer spending and undermine economic recovery in the U.S. and Europe.

In currencies, the dollar was lower against the yen and higher against the euro.

European shares dropped in early trading. Britain's FTSE 100 slid 1.2 percent to 5,923.53. Germany's DAX was down 1 percent to 7,125.57 and France's CAC-40 was 0.7 percent lower to 3,984.36. Wall Street was also headed lower. Dow Jones industrial futures dropped 0.6 percent to 12,020 and S&P 500 futures were down 0.8 percent to 1,295.50.


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* Overnight the oil price jumped up to $102.00. *

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