The price of Crude Oil continues to climb following this week's earlier spike above $90 a barrel. The unrest across the Middle East has many speculators anticipating a decline in output, and thus supply, over the next several weeks. Prices have begun to soar as a result. The decline in US dollar values has only added to the bullishness in Crude Oil prices.
The shifting atmosphere in Egypt and its Arab neighbors has caused a stir among analysts who just prior to the outbreak of unrest were deciding on whether or not the global economy had finally entered a serious recovery. Any revolutionary changes in the political map of the Middle East could greatly impact oil output, pricing, and agreements, carrying over a significant effect on the price of oil. Traders should continue to eye the events in Egypt to gauge whether or not there will be a severe disruption in oil outflows.