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Ransacking, looting, the punishment is execution. >> well, the surge and unrest in libya is sending shock waves through the oil markets. nymex crude surging more than 2.6%. $96 up 2.66%. also a close indicator of how markets indicator is called the fear index. it's actually known as the vix. it jumped on tuesday. as we were told, the markets right now are fragile. >> reporter: the vix index is a nerve, a fear index, a nervous index. so clearly what it's telling you is there's a lot of nervousness. i t the fact is there's always been a lot of nervousness but people have been waiting.

Center of everything right now. libya is not a major oil producer, but the bottom line is we don't have a lot more oil produced in the world on a daily basis than we use. now, because of that surge in oil prices, take a look at what's going on on stock markets. for the second day in a row, we're seeing heavy losses in major markets. the dow down 142 points right now. it closed with an even greater loss than that yesterday. we'll keep an eye on both of those things. there are a couple ways this is playing out, by the way, at the gas pumps. the current average for a gallon of unleaded gasoline, ...

The prime minister of greece tuesday, days after the greek parliament approved drastic spending cuts and tax hikes aimed at cutting that nation's massive debt. more earnings reports this week including h&r block. expected to report lower earnings with more americans out of work fewer people are filing tax returns. plus, "forbes" magazine will tell us who's the richest of them all when it releases its list of the world's billionaires. let's go now to the prices at the pump. they are creeping up again. the national average of a gallon of gas today is $2.74. a month ago it was $2.66 a gallo...

Stimulus bill that democrats take up next week will throw good money after bad. since the first stimulus spending hasn't reduced unemployment enough. they'd like to take $5 billion in unspent stimulus money and use it to pay down the debt, but the white house says with unemployment around 10%, stimulus spending is still needed because we're not out of the crisis yet. jim? >> thanks, wendell. stay dry. the stocks finish the week on a positive note. the dow gained ten. s&p 500 added three. nasdaq up 15 2/3. oil prices are at the lowest level in two months. crude future lost $1.95. gal is averagi...

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