The political unrest in Egypt has driven up the price of oil. Yesterday the price of Brent crude oil went through the USD $ 100 a barrel barrier for the first time since October 2008. At one point it hit USD $ 101.08 before falling back to $ 100.01. Egypt is significant to the oil industry because of the Suez Canal. Oil prices soared over fears that the Canal could shut as a result of the protests - causing massive disruption to supplies. The Canal currently remains open and fully operational. Rising global demand as countries emerge from recession has seen the price of Brent oil soar since the summer when it cost USD $ 70 a barrel.

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