LONDON: Global shares continued to slide yesterday, while Europe’s benchmark Brent crude was just short of $100 a barrel on fears political unrest in Egypt could spread among regional oil-producing nations.
Protests to end the 30-year rule of President Hosni Mubarak continued over the weekend, heightening risk aversion for European investors already concerned by the effect their own region’s sovereign debt crisis and inflation could have on growth.
“Whilst Egypt’s importance to the global economy is limited, its importance to the transportation of oil is huge,” said Jonathan Sudaria, night dealer at London Capital.
“Traders are concerned that with already rising inflation and falling real incomes for consumers, a further rise in energy prices could really dampen any consumer confidence and prospects for growth.”
Benchmark Brent crude had come off slightly to trade down 0.4 per cent at $98.93 a barrel by 0900 GMT, after hitting a 28-month high on Friday.
“The Egyptian situation looks to be the primary factor,” said David Land, chief market analyst at CMC Markets.
The market is reacting to “what this could mean in terms of stability for such a vital region for energy production”, he added.
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"Fat" som volumenhet heter barrel, men det finns olika enheter som går under detta namn. Den amerikanska enheten 1 barrel = 42 US gallons = 159 liter (kubikmeter ) används internationellt vid handel av råolja (crude oil).
BPD = Barrels per day = råoljeproduktion (eller konsumtion) per dag.
Inom det Brittiska samväldet räknar man 1 barrel = 36 Imperial gallons (43 US gallons) = ung. 164 liter (0,1637 kubikmeter).
A barrel of money = ' en massa pengar'
Barrelhouse = 'krog' (i USA)
Även t.ex. jazzen har sitt 'barrel'.
