Oil jumped 6% Tuesday, at one point spiking to $98/barrel, due to concerns over spreading turmoil in oil-producing Middle Eastern and African nations.
New reports say Col. Gadhafi is ordering security forces to sabotage oil fields throughout the country, a move that could potentially affect the global oil market.
Though Libya only produces 2% of the world's oil, the growing unrest in the North African nation sparked concern over what might happen if the political turmoil were to spread. American Morning's Kiran Chetry talks to James Burkhard, Managing Director at Cambridge Energy Research Associates, about oil and international politics.