Egypt's political crisis heralds a new phase of instability in the Middle East that will keep...

|By:, SA News Editor

Egypt's political crisis heralds a new phase of instability in the Middle East that will keep worries about area oil supplies intact and put upward pressure on prices, commodities analysts say. ANZ's Nick Trevethan expects higher oil prices in the first few months of next year partly due to political risk, adding that Jan. 22 parliamentary elections in Israel also would be watched closely by energy markets.