BREAKING NEWS

Oil rises on expectations of Egypt regime change

By ASSOCIATED PRESS

FEBRUARY 10, 2011 20:14

NEW YORK — Oil prices rose Thursday on expectations that Egypt's president will step down, easing worries that oil shipments from the Middle East could be disrupted by ongoing protests.

Benchmark West Texas Intermediate crude rose 29 cents to $87 a barrel in midday trading on the New York Mercantile Exchange. Prices climbed as high as $88.28 earlier in the session. In London, Brent crude fell 63 cents to $101.69 a barrel on the ICE Futures exchange.

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