SINGAPORE: Oil prices edged higher in Asian trade Wednesday buoyed by solid gains in US stocks and stronger demand in the world’s biggest economy, analysts said.
Concerns about a disruption in Middle East supply caused by the turmoil in Egypt have eased after a timetable for fresh polls was announced Tuesday following last week’s military coup. New York’s main contract, light sweet crude for delivery in August, gained 99 cents to $104.52 a barrel in morning trade and Brent North Sea crude for August delivery added two cents to $107.83.
