Crude Oil, Gold Jump as Egypt Tensions Mount

- January 28th, 2011

Bloomberg reports that Crude oil surged the most in 16 months as unrest in Egypt raised concern that protests would spread to major petroleum producers in the Middle East.

Bloomberg reports that Crude oil surged the most in 16 months as unrest in Egypt raised concern that protests would spread to major petroleum producers in the Middle East.

The market news is quoted as saying:

Oil futures for March delivery jumped $3.70, or 4.3 percent, to settle at $89.34 a barrel on the New York Mercantile Exchange, the biggest gain since Sept. 30.

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