Will the Muslim Brotherhood Close the Suez Canal?
By JOEL HILLIKER
February 2, 2011
Oil prices have spiked at just the possibility. Europe is keeping close watch.
Almost immediately after angry Egyptians took to the streets last week, oil jumped to over $100 a barrel. It was the first time oil hit triple digits since the record spike to $147 two years ago. Clearly, investors were spooked at even the thought of a disruption in energy production and shipping.
On Monday, we got a glimpse at one important reason why. A leading Muslim Brotherhood member said the Suez Canal should be immediately shut down.
Muhammad Ghannem made the provocative statement to an Arabic-language Iranian news network. He also said Egyptians should “be prepared for war against Israel.”