Oil Prices Rise 2% on West Asia Tensions and OPEC Supply

Oil prices rose around two percent today after sliding in the previous session as markets weighed tensions in West Asia against demand worries and rising OPEC supply.         In intra-day trade, Brent crude was trading 1.90 percent higher at 77 dollars and 58 cents per barrel, while U.S. West Texas Intermediate crude was also trading two percent higher at 72 dollars and 20 cents per barrel when reports last came in.