Egypt is in chaos and all essential services came to a halt after hundreds of thousands of people went out to put an end to the 30 year old Mubarak’s regime.

The riots raised uncertainty around the continuous operation of the Egyptian Suez Canal and Suez-Mediterranean pipeline’, which are major conduits for Persian Gulf oil to reach Europe and North America. Oil prices reacted immediately to the crisis and climbed sharply. The prices can easily continue to climb to the 3 digit area as the uncertainty in Egypt continues. High oil prices affect many businesses as they see their costs rising and putting some pressure on margins.