Oil advances

Published October 11, 2012

LONDON, Oct 11: Global oil prices climbed on Thursday on the back of geopolitical jitters surrounding Syria, while traders also digested buoyant US economic data.

Brent North Sea crude for delivery in November soared to $116 per barrel, the highest level since Sept 17, lifted also by supply delays after regular maintenance in the North Sea, dealers said.

The Brent oil price later stood at $115.07, up 74 cents from Wednesday’s closing level. Elsewhere, New York’s main contract, light sweet crude for November, added67 cents to $91.92 a barrel. —AFP