NEW YORK, Jan. 31 (UPI) -- Crude oil prices surged in New York Monday as widespread protests aimed at toppling Egypt's government sent prices up 3.2 percent to top $92 per barrel.
Traders worried the political instability in Egypt could prompt the closing of the Suez Canal, which handles 2.9 million barrels of oil per day or about 2.6 percent of the global supply.
A run up in March contract crude oil prices paused early, then continued a rally that started Friday. On the New York Mercantile Exchange, oil prices added $2.85 to $92.19 per barrel, the highest close since October 2008.
Home heating oil prices added 3.7 cents to $2.7312 per gallon. Reformulated blendstock gasoline gained 0.56 cents to $2.4915 per gallon.
At the pump, the average national price for unleaded gasoline was unchanged Friday to Monday at $3.099 per gallon, AAA said.
