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Summary Resignation by Egypts President Hosni Mubarak drops crude oil prices in the international market.
Crude oil prices in the New York market fell by 1.3% which is the lowest it has been since two and a half months. The deliveries to be made in March saw a drop of 1US$ and 15cents bringing the prices down to US$25 and 58 cents per barrel.Whereas in Europe the prices of oil per barrel dropped by 25 cents bringing the prices down to 100US$ and 94 cents. As the protests in Egypt started, the apprehension of the Suez Canal routes resulted in the increase of oil prices in the international market.
