Thanks to Zero Hedge for this tip: Saudis ramping up for a protest against the monarchy on March 20 2011.
Meanwhile, 50% Libya's oil production is offline. Italy gets 425k barrels A DAY. Italy is hosed. And Libya exports the sweet crude - not the heavy sour that gets shipped out of the Middle East.
Brent hit $111.
WTI hit $100.
The moves in the last two trading days undid just about every penny of QE1 and QE2. Bernanke, your plane is leaving.
America, meet your Arab Unrest moment.