February 3, 2011

Egypt Revolt Triggers Oil Market Fear

Marianne Lavelle, National Geographic


National Geographic

World oil prices were trading at their highest level in three years this week amid the revolt in Egypt, which for decades served as a major petroleum transit route. But energy analysts believe the real risk is not a closure of the desert conduits—the Suez Canal and the Sumed Pipeline—but that the unrest gripping Cairo will spread to neighboring nations.

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TAGGED: Oil Prices, Egypt, Revolution, Protest, Middle East