The Energy Report: Josh, political tension in the Middle East always prompts speculation over potentially rising oil process. What has the price action been since violence in Egypt intensified?
Josh Young: Prior to the turmoil in Egypt, oil was in the $90–95 per barrel ($90–95/bbl) range; it is now trading over $106/bbl. Prices will continue to rise if political instability spreads into the oil-producing neighbors of Egypt, or disrupts shipping on the Suez Canal.
TER: Do you see a potential for turmoil in Saudi Arabia?
JY: The … [visit site to read more]
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