August 26, 2013 10:47 AM

printer

Oil prices scale up on disappointing US housing data

Oil prices climbed in Asian trade today as disappointing US housing data tempered expectations of stimulus tapering by the Federal Reserve. New York's main contract, West Texas Intermediate for delivery in October, rose 36 cents to 106.78 dollars in mid-morning trade. Brent North Sea crude for October added nine cents to 111.13 dollars.US housing data released on Friday put July new home sales at an annual pace of 394,000, down from June's revised 455,000. Instability in the Middle East also continued to support oil prices amid the political crisis in Egypt and allegations that Syrian forces used chemical weapons on civilians.

Most Read
View All arrow-right

No posts found.