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U.S. crude futures briefly crossed the critical $100 mark Wednesday, the first such move since October 2008, as escalating violence in Libya shook crude markets and extended supply worries.In London, Brent crude futures rallied above $110 a barrel, posting the biggest three-day percentage gain in a year.
Between 300,000 and 400,000 barrels per day of Libyan output — up to 25 percent — has been shut down, according to Reuters calculations, marking the first cut in oil supplies related to the recent wave of anti-government unrest in North Africa and the Middle East.