September Brent futures are holding just below $110 which has been a tough bit of resistance as troubles rage in Egypt.
Stories are crossing the wires of hundreds of people killed or wounded in demonstration clashes with police and security forces.
Egypt’s political problems are well known and things have calmed down somewhat in the region compared to the uprisings we saw last year. While an escalation in Egypt may not lead to further problems in other areas, it’s something we should bear in mind.
Brent Crude Sep futures 14 August 2013