Middle East clashes see oil price rise
The price of oil rose to nearly 88 US dollars a barrel in Asia today as the conflict between Israel and Hamas showed no signs of abating, raising concerns about crude supplies.
Benchmark oil for December delivery was up 95 cents to 87.87 dollars per barrel in late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract added 1.05 dollars to finish at 86.92 dollars per barrel on Friday.