SINGAPORE: Oil prices were higher in Asian trade Friday, supported by buoyant economic data from the United States and Germany as well as concerns over Iran's nuclear programme, analysts said.
New York's main contract, light sweet crude for delivery in April, rose 64 cents to $108.47, while Brent North Sea crude for April delivery gained 60 cents to $124.22 in morning trade.
"The level oil prices have risen to this week is quite unexpected," said Ken Hasegawa, energy desk manager at Newedge brokerage in Japan.
Positive economic news from the United States and Germany as well as "the continuing tension in Iran are factors supporting oil prices", he told. (AFP)
New York's main contract, light sweet crude for delivery in April, rose 64 cents to $108.47, while Brent North Sea crude for April delivery gained 60 cents to $124.22 in morning trade.
"The level oil prices have risen to this week is quite unexpected," said Ken Hasegawa, energy desk manager at Newedge brokerage in Japan.
Positive economic news from the United States and Germany as well as "the continuing tension in Iran are factors supporting oil prices", he told. (AFP)