Oil prices up in Asia on Middle East fears

SINGAPORE: Crude prices rose in Asia Monday after UN chief Ban Ki Moon warned that Israel's new resettlement plans would deal an "almost fatal blow" to any prospects for peace with Palestinians, analysts said. Israel's move is likely to heighten geopolitical tensions in the crude-producing Middle East.

New York's main contract, light sweet crude for delivery in January, gained 11 cents to $89.02 a barrel and Brent North Sea crude for January delivery added 15 cents to $111.38.