Moneycontrol
Feb 01, 2011 11:23 AM IST | Source: CNBC-TV18

Egypt crisis: How bad could things get?

Oil prices, which rose to levels just short of 100 dollars a barrel on Friday, are holding firm as protests against Egyptian president Hosni Mubarak's regime enter the seventh day.


Oil prices, which rose to levels just short of 100 dollars a barrel on Friday, are holding firm as protests against Egyptian president Hosni Mubarak's regime enter the seventh day.


All eyes are on how the geo-political tensions in Egypt unfold and analysts say oil prices could breach 100 dollars if the tensions continue, or spread to other nations in the Middle East. Traders worry that the protests could lead to a shutdown of operations at the Suez Canal, which is a key transport link for oil containers to and from the Mediterranean.

According to Nouriel Roubini of RCE Monitor geo-political risks are on the rise.

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