April crude oil prices traded higher overnight to their best levels in over 2 1/2 years, supported by unrest in Libya and fears of more supply disruptions. There were reports earlier this morning that an oil operation in Libya shut down, which was responsible for about 100,000 bpd or 6% of the country's production. There were comments from IEA's chief economist earlier this morning that the higher oil prices threatened global growth. He also stated that the IEA is ready to release stockpiles to offset supply disruptions. Meanwhile, the Saudi oil minister spoke this morning from the International Energy Forum and indicated that the global crude oil market was well supplied. The Commitments of Traders Futures and Options report as of February 15th showed non-commercial traders were net long 229,596 contracts, a decrease of 6,137. Non-commercial and nonreportable traders combined held a net long position of 287,314 contracts, a decrease of 7,220 for the week.