Oil prices have hit a two-and-a-half-year high following protests against Libya's ruling elite, led by Muammar Gaddafi. Amid the chaos oil companies have evacuated staff from their offices, and the situation has had a knock-on effect on prices. Brent crude rose by as much as $2.70, to $105.28 a barrel on Monday (February 24), the highest since September 2008. Libya's oil exports, mostly high quality crude, are mainly bound for Europe, so prices in the medium term will remain high in the UK.