Oil Prices Spike Amid Turmoil in Egypt

Tuesday, February 01, 2011

Gas Prices Continue To Rise, Inching Up Over Last Two Weeks (Getty)

Oil prices have been floating around $90 a barrel for weeks, but now, the turmoil in Egypt has pushed the price up. Crude oil jumped close to 4% on Friday and then 3.2% yesterday to settle at $92.19 a barrel. However, the output of crude hasn’t changed in the region, so what exactly explains the sharp rise in prices?

Louise Story, Wall Street and finance reporter for The New York Times explains the mechanisms behind such a rise: is it just fear? Shibley Telhami, Anwar Sadat Professor for Peace and Development at the University of Maryland helps contextualize the change in oil prices.


Louise Story and Shibley Telhami

Produced by:

Jen Poyant

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.