Here we go again...Brent crude tops $103 as Egypt violence escalates

[Playinghardball]

(Reuters) - Brent crude surpassed $103 on Thursday after violent clashes in Egypt raised the prospect of further unrest across the Middle East, overshadowing the bearish effect of soaring gasoline inventories in top consumer the United States.

ICE Brent crude for March rose as much as $1.03 to $103.37 a barrel, the highest intraday price since September 26, 2008, and was up 88 cents at $103.22 at 0419 GMT. U.S. crude for March rose 66 cents to $91.52.

Front-month Brent has rallied more than $8 since the unrest in Egypt started from about $95 a barrel on January 25. That 9 percent gain in slightly over a week is more than a third of last year's total increase of 22 percent.

More at: http://www.reuters.com/article/2011/02/03/us-markets-oil-idUSTRE71192R20110203

[DJ13]

1. Speculators are loving the Egypt protests

They never met a calamity they couldnt turn into easy money.

[snappyturtle]

2. Excuse for greed. nt

[The_Casual_Observer]

3. It comes down a lot more slowly than it goes up

[Newest Reality]

4. Their god is profit and it should be declared officially!

The acquisition of it stands above and beyond anything else. That includes human life, safety and the continuation of any species, our own as well. Make a fortune off of death and chaos, whenever possible. Starve the poor and buy a luxury car for your trouble.

Breaking News: God's new name is PROFIT. All are bow before it. Worship it.

Yet, they continue the observation of their faith, unobstructed and protected.

[dkf]

5. The key is the Suez canal.