Both the Dow and S&P closed in positive territory on Wednesday, but slipped from their best levels late in the session, largely due to reports that Mideast fighting had intensified.According to Reuters, pro-Gadaffi forces attacked an oil exporting terminal in the rebel-held port of Brega.
On the news WTI surged to $102 and Brent crude, which trades closer to the action, jumped above $117.
Stocks have taken their cue from oil since January when the turmoil in the Middle East started; as one goes higher the other goes lower. The fear is that rising oil prices could derail the recovery.
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