Oil higher in Asian trade on Arab unrest

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Singapore, April 25: Oil was up in Asian trade today as escalating tensions in Libya, Syria and Yemen heightened fears of supply disruption in the Middle East and North African region.

New York's main contract, light sweet crude for delivery in June, rose 52 cents to USD 112.81 a barrel, while Brent North Sea crude for June gained 54 cents to USD 124.53.

"The violence in Syria and Yemen escalated over the weekend, and traders worry about supply disruption," said Ong Yi Ling, an investment analyst for Phillip Futures in Singapore.

In oil-producing Libya, veteran leader Muammar Gaddafi's office in his immense Tripoli residence was destroyed in an air strike by NATO warplanes enforcing a UN resolution early Monday, said an AFP journalist.

Libyan rebels have been seeking to oust Gaddafi after uprisings deposed the leaders of Tunisia and Egypt earlier this year. 

AFP

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