Oil prices rise more than 1%, Brent hits $106.14

Oil prices climbed more than 1% in early Asian trading on Monday, as concerns over potential disruptions to energy supplies from the Middle East continued to support the market, Qazinform News Agency cites WAM.

photo: QAZINFORM

Brent crude futures rose US$1.82, or 1.74%, to $106.14 a barrel. US West Texas Intermediate (WTI) crude futures gained US$1.14, or 1.23%, to $93.55 a barrel.

Oil markets have remained volatile in recent sessions amid ongoing uncertainty over energy supplies from the Middle East.

Earlier, Qazinform reported Kazakhstan invests 600 billion tenge in oil and gas exploration.