Oil was the most affected piece of the market as a result of the uprising. Brent crude oil futures jumped over $100 a barrel for the first time in 28 months. The last time crude hit $100 a barrel was on Oct. 1, 2008.
The concern is getting oil shipped through the Suez Canal. Traders worry that instability in Egypt will spill over to other Middle Eastern countries and disrupt the flow of oil out of the region. According to the U.S. Energy Information Administration, Egypt has the largest oil refining industry in Africa and Egypt's Sumed Pipeline also provides a pipeline network for exports to Europe .
Apache Oil (APA - Get Report) has 25% exposure to Egypt. Real Money contributor Dan Dicker believes that if an investor has the risk tolerance -- Apache could present an opportunity. He is clear that risks abound, i.e. a new government might not feel obligated to meet previous contractual responsibilities to Western companies. He feels a rebound in the stock from last week's panic and stability in the trading could present a buying opportunity.Another dynamic in the energy sector is M&A activity. Chinese offshore oil producer CNOOC (CEO) agreed to a $1.3 billion deal with Chesapeake (CHK), continuing its aggressive drive for acquisitions. Further driving up the price of oil and oil companies.