Abu Dhabi and Qatar led an increase in the cost of insuring government debt in North Africa and the Middle East on concern political upheaval may spread and disrupt oil supply.
Credit-default swaps on Qatar jumped 7 basis points to 113, the highest level in a year, and Abu Dhabi rose 6.5 to 114, CMA prices show.
Oil rose to a two-year high, fueling concern of global inflation, as violence escalated in the region. Muammar Qaddafi’s son called on protesters in Libya to engage in dialogue or face a civil war while in Yemen, demonstrators took to the streets for an 11th day as President Ali Abdullah Saleh said calls for regime change are “not logical.”
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