LONDON, Aug 14: Global oil prices rose on Tuesday but were off three-month highs struck a day earlier on tight supply worries and tensions in the crude-rich Middle East.

Brent North Sea crude for delivery in September rose 36 cents to $113.96 a barrel approaching midday in London. On Monday, it had hit $115.11 — the highest level since early May — before falling back on profit-taking.

In Tuesday trading, New York's main contract, light sweet crude for September, gained 32 cents to $93.05 a barrel.

“The increase in the price of Brent comes courtesy of special factors such as a 17pc lower North Sea production in September and escalation of the tensions in the Near and Middle East,” said Commerzbank analysts in a research note.

“In recent days, rhetoric between Iran and Israel has significantly intensified, fuelling fears of a military conflict,” they added.

North Sea crude supply was set to be curtailed in September primarily by the shutdown of an oil field for scheduled maintenance. —AFP