Oil in New York Trades Near Two-Year High on Concern Over Egypt

Oil traded near the highest in more than two years in New York and Brent crude topped $100 a barrel after a seventh day of unrest in Egypt raised concern supplies may be disrupted.

Futures gained 3.2 percent yesterday as opposition groups demanding President Hosni Mubarak’s ouster urged more people onto the streets. Egypt’s Suez Canal, which links the Mediterranean and Red seas, is one of seven “world oil transit chokepoints,” according to the U.S. Energy Department.