Oil prices mixed amid Syria focus
- September 13, 2013, 11:51 pm
- Business News
- 148 Views
SINGAPORE, Sept 13 (APP/AFP) - Oil prices were mixed in
Asian trade Friday as dealers monitor diplomatic efforts to make Syria give up its chemical weapons and avert a US-led military attack, analysts said.
New York's main contract, West Texas Intermediate for
delivery in October, eased four cents to $108.56 a barrel and
Brent North Sea crude for October rose 16 cents to $112.79.
"Investors remain cautious over the diplomatic efforts to
get Syria to surrender its chemical weapons," Teoh Say Hwa,
head of investment at Phillip Futures in Singapore, said in
a note.
The Assad regime in Syria on Thursday announced it would sign
up to the global convention banning chemical weapons following
a Russian proposal to put its toxic arsenal under
international control.
The US-Russia talks have put off a planned US-led attack on Damascus
for an alleged sarin gas attack by Assad forces last month
that left hundreds of Syrians dead. Assad blames opposition rebels
for the attack.
Oil prices were also supported by fresh reports of
supply disruptions in crude exporter Libya after the country's
National Oil Corporation on Thursday declared force majeure on
three ports.
Libyan oil exports plunged in August by more than 70
percent after protesters, including policemen and border
guards, forced terminals to shut in a row over pay.
