"Just before the turmoil in Egypt we already had very high prices as a result of strong demand growth expectations for the next year," Birol, the chief economist of the Paris-based IEA, which has advised energy-consuming nations since 1974, said in a February 2 interview. "The turmoil in Egypt has been a trigger. Brent over $100 is a risk to derail the economic recovery." Rising demand means an extra 300,000 barrels a day is needed from OPEC to stem oil's advance, Bank of America Merrill Lynch said on January 25. The four benchmark crudes that haven't risen above $100 a barrel are WTI and Mars blend in the US, Oman and Murban grades in the Middle East. (Bloomberg)