OIL PRICES shot up again yesterday after a “day of rage” led by anti-government protesters in Bahrain and Iran kept the global markets focused on Middle Eastern unrest.
Just days after Egyptian president Hosni Mubarak’s resignation calmed oil traders, Brent crude rose more than two per cent yesterday to top $104 (£64.86) a barrel for the first time in 28 months, before closing at $103.08 a barrel for April delivery.
Police in Bahrain used teargas on the crowds and one man was shot dead but the clashes have not deterred thousands of protesters, who vowed to return to the streets today. Violent protests also broke out across Iran and Yemen. In Tehran, large crowds of protesters defied tear gas to march down a major thoroughfare chanting “Death to the Dictator” in the biggest demonstration since the Iranian government effectively crushed the opposition movement in December 2009.