Updated on
Summary Oil prices rose this morning as heightened tensions in Egypt sparked crude supply concerns.
New Yorks main contract, light sweet crude for March delivery, soared 42 cents to $87.15 per barrel. Brent North Sea crude for delivery in March gained 47 cents to $101.34 on its last trading day. The rise came after Egyptian President Hosni Mubarak refused to step down on Thursday, delegating some powers to Vice President Omar Suleiman and enraging protesters who have demanded his immediate resignation.
