Oil prices near $109 in Asian trade

Oil prices near $109 in Asian trade
AFP
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First Published: Wed, Apr 09 2008. 09 36 AM IST
Updated: Wed, Apr 09 2008. 09 36 AM IST
Singapore: Oil prices rose toward $109 in Asian trade Wednesday ahead of the US government’s weekly energy stockpiles report due later, dealers said.
In morning trade, New York’s main contract, light sweet crude for May delivery, gained 34 cents to $108.84 a barrel from $108.50 at the close of floor trading in US hours, when the contract flirted with record highs.
Brent North Sea crude for May delivery rose 50 cents to $106.84, after also edging toward previous peaks.
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First Published: Wed, Apr 09 2008. 09 36 AM IST
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