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KUWAIT (Reuters) – Global lubricator prices could exceed $110 a containerful if semipolitical unrest in empire continues, a member of Kuwait's Supreme Petroleum Council said on Sunday.

Oil prices impact spiked due to tension in Egypt. Brent vulgar impact $100 per containerful for the prototypal time since 2008 on fears instability could spread through the Middle East, which unitedly with North continent shoe over a third of the world's oil.

"I wait lubricator prices to accomplish $110 during the prototypal half of 2011, however, it could go above that take if Egypt's underway crisis continues," Imad al-Atiqi, a member of the OPEC member's highest lubricator policy body, told Reuters in a ring interview.

"A Brobdingnagian turn of lubricator passes through the metropolis Canal and the country's unchangeability is primary for the Middle East's stability, particularly Israel," he said.

Egypt is a diminutive lubricator and pedal exporter and the main danger of the unrest is seen as the approaching of the metropolis Canal or the Suez-Mediterranean (SUMED) lubricator scuttlebutt which passes nearby Cairo.

The canal ships 1.5 meg barrels per day (bpd) of vulgar and the scuttlebutt carries 1 meg bpd. Together they statement for nearly 3 proportionality of regular global lubricator demand.

On Thursday, Egypt's Prime Minister Ahmed Shafiq said the metropolis Canal was operative ordinarily despite the unrest.

Some oil-focused bankers and money managers say that even if unrest in empire cuts flows along the strategic scuttlebutt and the metropolis Canal, the lubricator toll fruit would likely be short-lived and flows would uphold quickly, regardless of whoever is in power.

OPEC members are easy with an lubricator toll ranging between $90 to $100 a barrel, Atiqi said, adding the group could foregather before their regular meeting in June if prices continued ascension apace above $110 a barrel.

OPEC ministers and consumers module handle lubricator production policy on the sidelines of an international forcefulness conference in Arabian peninsula on Feb 22, but a conventional selection there was unlikely, the OPEC secretary general had said.

OPEC says it has constituent power of 6 meg barrels to foregather forfeited production but would do it only when it sees a shortage in the market kinda than speculator-driven rallies.

(Reporting by Koweit newsroom; Editing by Rania El Gamal; Editing by king Holmes)

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