Oil prices broke through the $100 a barrel level for the first time in more than two years, amid market fears that Egypt’s turmoil will impact oil flows.
Although both the Suez Canal and a pipeline linking the Red Sea with the Mediterranean continue to operate, the popular uprising to unseat Hosni Mubarak, Egypt’s president, has brought much of the rest of the economy to a halt.
Local and foreign companies have suspended operations, while holidaymakers are rushing to airports in an effort to evacuate the country.
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