Oil prices up due to Egyptian unrest

Last night and early this morning oil future price rose sharply on the back of the ongoing unrest in Egypt. Yesterday Nymex Light Crude front month future closed at $99.60/bbl, with early morning trade today as high as $102.18. ICE Brent front month close $104.00/bbl, highest today $105.61. MGO trading $10.00 above yesterday’s close at $890/mt.