Oil prices rose past $104 a barrel on March 4, marking a two-and-a-half-year high and sending stocks sharply lower on Wall Street, as fighting in Libya and unrest in the Arab world intensified. As a result of the unrest, Libya's production halved, forcing Saudi Arabia to hike output to make up for the resulting shortfall. Libya has Africa's largest oil reserves and contributed about 2% of global production before the crisis broke out. The spread of unrest to Saudi Arabia, the world's number one exporter, helped further drive up prices. (AP, Proactive Investors, The Street, March 5)

The president's Oil Spill Commission—officially the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling—has presented its report to the White House and will officially disband on March 11. The report concludes that BP was long aware of problems with cementing work performed by Halliburton, which was among the contractors on BP’s Macondo well. The report finds that the "root technical cause" of last April's blowout was inadequate cementing. "BP's failures are especially troubling because it had previously identified several relevant areas for concern during a 2007 audit of Halliburton's capabilities," the report states.

The indigenous Evenk people in north Siberia have launched a campaign against Russian energy giant Gazprom's plans for a pipeline through their territory, which they say threatens their traditional hunting and fishing grounds. The planned pipeline, which will link the Yakutia Republic's Chayandinskoye oil and gas field with the Far Eastern Russian city of Khabarovsk, is to be developed near an Evenk settlement.

Several hundred protested on March 4 in the Shi'ite-majority east of Saudi Arabia, calling for the release of an arrested cleric and other detainees—a first in the authoritarian kingdom. An appeal was made on Facebook for a "Day of Rage" on Friday to demand release of Sheikh Tawfiq al-Aamer, a Shi'ite cleric arrested on Feb. 27. Protests were reported in the towns of al-Houfouf and al-Qatif, both in al-Ihsaa governorate of Eastern Province. The march in al-Qatif was dispersed by security forces. Amer was arrested after calling for a "constitutional monarchy" in the Sunni-dominated kingdom. Some 10,000 security personnel are being mobilized to the northeastern provinces, clogging the highways with busloads of troops to put down what is being called the "Hunayn Revolution"—after a 630 CE battle in which the Prophet Mohammed defeated a Bedouin army. (The Independent, March 5; AFP, March 4; Middle East Online, March 3)

Police fired tear gas to disperse crowds of protesters demanding the ouster of Libyan strongman Moammar Qaddafi in Tripoli's eastern Tajoura neighbourhood after Friday prayers March 4. In another section of the capital, near the landmark Green Square, a group of anti-regime protesters came to blows with loyalists. (Middle East Online, March 4) Fierce armed clashes between regime loyalists and rebels left "many dead and wounded" at an oil compound in Raslanuf, a doctor at a hospital in rebel-held eastern Libya said. (Middle East Online, March 4)

An Israeli company is recruiting mercenaries to support Moammar Qaddafi's efforts to put down the uprising against his regime, an Israeli news site reported March 1. Citing Egyptian sources, the Hebrew-language news site Inyan Merkazi said the company is run by retired Israeli army commanders. The report said the head of the company recently met with Israeli Prime Minister Benjamin Netanyahu, Defense Minister Ehud Barak and intelligence chief Aviv Cokhavi. It added that the officials all approved the company's recruitment of mercenaries to help Qaddafi. It said Israeli officials approved the recruitment out of fears that if toppled, Qaddafi would be replaced by an "extremist Islamic regime."

As the price of gold climbs to $1,441 an ounce, new illegal mines are springing up across Colombia, helping fund the armed conflict and damaging the environment, the New York Times reported March 4. Colombia's largest guerilla group, the FARC, have taken up the illegal mining of gold to finance their armed conflict with the state, President Juan Manuel Santos said in January. Their paramilitary adversaries have been swept up in the "gold rush" as well. Competition over the gold trade between two so-called "neo-paramilitary" gangs, the Urabeños and Rastrojos, has led to a homicide wave in the town of Caucasia in the north of Antioquia department (Bajo Cauca region).

The foreign ministers of Colombia and Venezuela have signed 13 agreements intended to increase cooperation between the neighboring countries, according to a March 3 report on the Colombian Exterior Ministry website. The agreements were signed at the conclusion of a Binational Economic Meeting between the two countries in Caracas, focusing on themes such as border security and the renewal of commercial relations following last year's bilateral crisis.