Oil prices up on reviving Middle East supply fears
SINGAPORE (TIP): Oil prices rose in Asia on Aug 12 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 $98.43, while Brent crude for September gained 19 cents to $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, said.
