Oil prices rose today as heightened tensions in Egypt sparked crude supply concerns.
New York’s main contract, light sweet crude for March delivery, soared 83 cents to $87.56 per barrel. Brent North Sea crude for delivery in March gained 69 cents to $101.56 on its last trading day.
The rise came after the Egyptian President, Mr Hosni Mubarak, refused to step down on Thursday, delegating some powers to the Vice-President, Mr Omar Suleiman, and enraging protesters who have demanded his resignation.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.