World oil prices extended their gains in Asian trade Thursday after the political crisis in Egypt erupted into violence.
At least two people were killed and many were wounded overnight in gunfire aimed at protesters in central Cairo demanding the ouster of President Hosni Mubarak, according to witnesses.
The market has been jittery following more than a week of anti-government protests in Egypt due to fears the crisis could spill over to other countries in the crude-rich but politically volatile Middle East.
Brent North Sea crude for March soared 88 cents to 103.22 in afternoon Asian trade.
RELATED ARTICLE:
The Pharaoh will Fall, Oil will Rise, and Wall Street will Win
Be the first to comment on "Oil breaks through $103 on Egyptian crisis"