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Brent above $ 108 on supply concerns and supported by U.S. data
Brent crude rose slightly to over $ 108 on Tuesday, boosted by a disruption to supplies from Syria and Iranian naval maneuvers in a major shipping lane, while the prices derived from the data further support a strong U.S. housing sector and covering of the centers of the city towards the end of the year.
Brent rose to 108.30 dollars a barrel during the transaction and by the time 0502 GMT was up 15 cents to 108.11 dollars. U.S. crude settled unchanged at 99.70 dollars a barrel.
Said Ken Hasegawa, director of derivatives trading in Naoadj brokerage in Tokyo "Syria may be supporting factor for the time being but will not see a big increase or astronomical prices for this reason.
"Until now, delays were not a big issue because the decline in demand somewhat in Europe. Awad, the impact of supply disruptions."
The Syrian Oil Minister Sufian Alao said on Saturday that his country's oil production fell by between 30 and 35 percent because of the sanctions imposed on Syria by the security crackdown has been going on for nine months against the anti-government protests.
And contributed to training Iranian Navy in fears as well.
And Iran began on Saturday, naval exercises last ten days in the Strait of Hormuz, which raised concerns about the possible closure of the strategic oil route in the event of a military confrontation between Iran and the West.
But Hasegawa said that the impact of military exercises on prices currently limited due to the abundance of supply from OPEC countries.
Kuwait produced more than three million barrels of oil in December and expects to continue that rate if the availability of demand, according to Oil Minister Mohamed Al on Sunday after a meeting of Gulf Arab oil ministers in Abu Dhabi.
Brent crude rose slightly to over $ 108 on Tuesday, boosted by a disruption to supplies from Syria and Iranian naval maneuvers in a major shipping lane, while the prices derived from the data further support a strong U.S. housing sector and covering of the centers of the city towards the end of the year.
Brent rose to 108.30 dollars a barrel during the transaction and by the time 0502 GMT was up 15 cents to 108.11 dollars. U.S. crude settled unchanged at 99.70 dollars a barrel.
Said Ken Hasegawa, director of derivatives trading in Naoadj brokerage in Tokyo "Syria may be supporting factor for the time being but will not see a big increase or astronomical prices for this reason.
"Until now, delays were not a big issue because the decline in demand somewhat in Europe. Awad, the impact of supply disruptions."
The Syrian Oil Minister Sufian Alao said on Saturday that his country's oil production fell by between 30 and 35 percent because of the sanctions imposed on Syria by the security crackdown has been going on for nine months against the anti-government protests.
And contributed to training Iranian Navy in fears as well.
And Iran began on Saturday, naval exercises last ten days in the Strait of Hormuz, which raised concerns about the possible closure of the strategic oil route in the event of a military confrontation between Iran and the West.
But Hasegawa said that the impact of military exercises on prices currently limited due to the abundance of supply from OPEC countries.
Kuwait produced more than three million barrels of oil in December and expects to continue that rate if the availability of demand, according to Oil Minister Mohamed Al on Sunday after a meeting of Gulf Arab oil ministers in Abu Dhabi.
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