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Egyptian unrest stokes oil fears, but Mideast markets relax

URL: http://www.jewishjournal.com/world/article/egyptian_unrest_stokes_oil_fears_but_mideast_markets_relax_20110202

Investors began separating the losers and the gainers from Egyptian unrest on Wednesday, as fears the turmoil would interrupt the world oil trade lifted petroleum prices to their highest level in more than two years while share markets in the Middle East rebounded. The price of North Sea Brent crude futures held above $100 a barrel on Wednesday and just below the 28-month high they reached a day earlier, amid concerns the standoff between Egypt’s government and the opposition might close the Suez Canal. Investors also remained jittery about the risk of unrest spreading to the Middle East’s oil exporters.

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