Oil up in Asia
New York's main contract, light sweet crude for March delivery, was up 24 cents to $85.05 per barrel.
Brent North Sea crude for delivery in April advanced 13 cents to $103.21.
"Unrest in the Middle East could provide some support to crude oil prices," said Ong Yi Ling, investment analyst for Phillip Futures in Singapore.
Crude markets had been supported by supply concerns in the Middle East as demonstrators in various Arab states drew inspiration from pro-democracy protests leading to the ouster of leaders in Tunisia and Egypt.
Unrest has followed in Iran, Yemen and Bahrain.
Robust Chinese crude demand has also helped support crude prices.
"China crude oil imports rose 27 per cent from a year ago," Ong told AFP.
Chinese data released Monday showed the world's largest energy consumer importing 5.13 million barrels of crude per day for the month of January 2011.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:
Related Contents
Latest News
More News
- Malaysia's Solarvest and Finhero launch first solar financing fintech solution in Vietnam (November 22, 2024 | 19:50)
- SHB honoured at VLCAs for fourth time (November 22, 2024 | 19:08)
- Central Bank of Cuba chief visits Hanoi to work with VBSP (November 22, 2024 | 15:49)
- Credit sees steady growth towards year-end (November 21, 2024 | 17:46)
- HDBank wins three titles at Vietnam Listed Company Awards (November 21, 2024 | 10:01)
- VLCA’s corporate governance mission (November 21, 2024 | 10:00)
- The promotion of ESG via banking (November 21, 2024 | 09:32)
- Standard Chartered committed to Vietnam’s financial success (November 21, 2024 | 09:24)
- Full ESG adoption the priority for Agribank (November 21, 2024 | 09:07)
- Banks entice youth with tech advances (November 21, 2024 | 08:00)
Mobile Version