FT Alphaville » Suez isn’t Brent’s $100 problem

Brent’s finally done it:

(Reuters) Brent crude oil futures surged above $100 a barrel for the first time in 28 months on Monday on concerns that anti-government protests in Egypt could create instability across the Middle East, possibly disrupting oil shipments through the Suez canal.

In London, ICE Brent crude for March delivery shot up to $100.05 a barrel, rising 63 cents on the day…

And had hit $101 at pixel time, the highest since September 2008.

* username: rupertbu