Middle East Conflict Raises Oil Prices

Baghdad, -Oil prices rose in Asian trading, today, Tuesday, after falling more than 3% in the previous session, as concerns about supplies raised by the conflict in the Middle East prevailed.

Brent crude futures for December, which expire today, Tuesday, rose 36 cents, or 0.41%, to $87.81 per barrel.

Brent crude futures for January, the most widely traded, rose 29 cents, or 0.34%, to $86.64 per barrel.

US West Texas Intermediate crude rose 34 cents, or 0.41%, to $82.65 per barrel.

Oil prices fell by more than 3% yesterday, Monday, as investor caution increased ahead of the Federal Reserve (US central bank) meeting tomorrow, Wednesday.

Source: National Iraqi News Agency