Analysts at Trading Forex, a Leading Forex Trading Broker Say They Believe Tensions in Egypt and Syria Could Have a Big Influence on Oil Prices
Experts at forex trading believe that although everyone is concerned with tensions in Syria now, Egypt may lead to higher oil prices too. Two years after Hosni Mubarak’s administration was brought down during the Arab Spring, the country has plunged into political turmoil once more as Mohamed Morsi, inaugurated as Egypt’s first freely elected president a year ago, was banished from office by the military. Since then, the price of crude oil has been on the rise. In mid-July, oil prices jumped above $106 a barrel, their highest level in more than 12 months.