Oil prices have risen, with Brent futures holding above $100 a barrel, on continued Middle East supply risks and a storm heading for oil-producing regions in the United States, Reuters reports.
Brent crude futures were up 75 cents, or 0.75pc, to $101.33 a barrel at 5pmPKT. US West Texas Intermediate (WTI) crude was up 39 cents, or 0.44pc, to $89.83.
Investors are not convinced that recent rises in supply and exports from the Middle East are sustainable, PVM analyst Tamas Varga said.
Downward pressure on prices abated because of the approaching US storm, as well as conflict in the Middle East and Ukraine, Varga said.
