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Libyan rebels have suffered some military setbacks but are gaining some ground on the diplomatic front. U.S. Secretary of State Hillary Clinton is set to meet with members of the opposition during her trip to the region.

The Arab League has requested that the United Nations Security Council approve a no-fly zone over Libyan airspace. While some experts say the United States must step in to help the rebels, others argue that Libya doesn't meet the high bar for U.S. military intervention.

The 22-member organization can't impose a no-fly zone itself. But its approval gives the U.S. and other Western powers crucial regional backing they say they need before doing so. The move came as Moammar Gadhafi's forces retook the key oil port city of Ras Lanuf.

The president said the U.S. is prepared to release oil from the strategic reserve in the event of an emergency shortage, but that oil prices aren't high enough to warrant it. He also said the earthquake and tsunami in Japan are a potentially catastrophic disaster and the U.S. has offered any assistance required.

Moammar Gadhafi's troops forced rebel fighters from the oil port of Ras Lanuf with a withering rain of missiles, mortars and tank fire as Western nations struggled to find a way to stop him. France recognized the rebels' provisional government, and the EU called on member nations to do the same.

Your Libya Update - Libya Rebels Gain Diplomatic Foothold

Moammar Gadhafi's regime launched several new airstrikes in the oil port of Ras Lanuf to check the rebel advance west toward Tripoli, as Libyan troops bore down on the western town of Zawiya. Meanwhile, opposition leaders said they rejected an offer of negotiations from Gadhafi's government.

The president said NATO is consulting on a range of possible options and warned that Moammar Gadhafi's regime will be held accountable for violence against the Libyan people. Earlier, Libyan warplanes bombed a key oil port where rebel forces were regrouping after a ferocious government assault.

We'll hear a front-line assessment of America’s entanglement in Afghanistan from journalist and author, Rajiv Chandrasekaran.

Libyan helicopter gunships fired on a rebel force advancing west toward the capital Tripoli along the country's Mediterranean coastline Sunday, and forces loyal to leader Moammar Gadhafi fought intense ground battles with the rival fighters.