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Oil higher in Asian trade on Arab unrest

Last Updated 03 May 2018, 06:54 IST

New York's main contract, light sweet crude for delivery in June, rose 52 cents to USD 112.81 a barrel, while Brent North Sea crude for June gained 54 cents to USD 124.53.

"The violence in Syria and Yemen escalated over the weekend, and traders worry about supply disruption," said Ong Yi Ling, an investment analyst for Phillip Futures in Singapore.

In oil-producing Libya, veteran leader Muammar Gaddafi's office in his immense Tripoli residence was destroyed in an air strike by NATO warplanes enforcing a UN resolution early Monday, said an AFP journalist.

Libyan rebels have been seeking to oust Gaddafi after uprisings deposed the leaders of Tunisia and Egypt earlier this year.

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(Published 25 April 2011, 03:05 IST)

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