Oil prices up as Turkey-Syria tension rises

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Associated Press

Posted on October 11, 2012 at 12:02 PM

Updated Thursday, Oct 11 at 12:02 PM

Oil prices are up, rising above $92 per barrel as tension between Turkey and Syria raises concerns about a disruption to crude oil supplies from the Middle East.

In morning trading on the New York Mercantile Exchange, benchmark crude is up $1.33 to $92.58 per barrel.

Also Thursday, a U.S. government report said crude inventories increased slightly more than expected.

AAA says gasoline prices at the pump are unchanged from Wednesday at $3.813 for a gallon of regular.

Natural gas prices rose more than three percent to $3.59 per 1,000 cubic feet. The Energy Department said natural gas supplies grew slightly less than expected last week.

Brent crude, which is used to price international varieties of oil, rose $1.46 to $114.64 on the ICE Futures Exchange in London.

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