Unrest in Egypt continues to push oil prices above US$91 amid mixed US crude and gasoline supply figures

04-Feb-11
Benchmark crude for March delivery rose to US$91.3 on the Nymex, while in London, Brent crude rose to US$103.2 on the ICE Futures exchange. Unrest in Egypt continues to push oil prices higher amid mixed US crude and gasoline supply figures.US energy supply data gave mixed signals about the strength of consumer demand. The Energy Information Administration reported that crude supplies rose less than expected last week but that gasoline inventories jumped more than analyst forecasts to the highest level since March 1993. Despite violent clashes in Egypt, shipping through Egypt's Suez Canal has not been disrupted, but concerns abound about the political instability that could spread to oil rich countries in the MiddleEast.
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