Crude Surges Past $100 As Cairo Death Toll Rises

Following Mursi’s TV and Twitter statement earlier, when WTI crude futures re-opened and immediately started to accelerate higher, breaking decisively through the Maginot Line of $100 (on their way to $4.00 gas at the pump in the US). The tensions are escalating between pro- and anti-Mursi protesters as Reuters reports 3 more dead and a further 90 wounded today.



FLASH: In clashes at Cairo university, 3 dead and about 90 wounded – Egyptian health ministry

— Reuters India (@ReutersIndia) July 2, 2013





How serious is this? Well credit markets appear to think twice as serious as Mubarak’s overthrow…


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