Brent oil trading near $102, Egypt protests add fuel to prices

( From  LiveOilPrices.Co.Uk)

Brent oil prices open today’s trading session firm, near $102 a barrel as the latest news from Egypt suggests that protests will continue.

Latest Brent Oil Price

In London, Brent crude oil futures for March 2011 delivery was trading at $101.84, 09.20 GMT this morning on the ICE Futures Exchange.

Calls For Egyptian President to Step Down

More foreigners are expected to flee from Egypt on today as governments expand evacuation efforts amid nationwide protests calling for President Hosni Mubarak to step down.

The US State Department said 1,600 Americans had been evacuated while British carrier BMI said it has organised an extra flight to help British nationals get back to the UK.

As the Egyptian president announced yesterday that he would stay on until September, with protesters exploding in anger in Tahrir Square on Tuesday night and continue today. A screen rigged up to show al-Jazeera was pelted with bottles and the cry “Irhal, irhal” went up repeatedly: “Leave, leave”.

Brent oil prices have gained around $6 dollars a barrel since last Friday when the Egyptian protests began, and are currenctly trading at around a $11 premium to the US counterpart, WTI oil.

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