Desmond Chua

Oil prices up on reviving Middle East supply fears

Oil prices upSingapore: Oil prices rose in Asia on Tuesday on reviving fears of supply disruptions in the Middle East, analysts said.

US benchmark West Texas Intermediate (WTI) for September delivery rose 14 cents to USD 98.43, while Brent crude for September gained 19 cents to USD 105.60 in mid-morning trade.

"We haven't seen signs so far that the ongoing conflicts in the Middle East could cause disruptions, but those concerns are still there at the back of investors' minds," Desmond Chua, market analyst at CMC Markets in Singapore, told AFP.

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