Singapore: (August 14, 2014) The disruptions in oil supplies from Middle East because of the increase in rate of oil price. According to media reports the oil delivery of September to United State enter West Texas Intermediate rose from 14 cents a barrel to 98.43 dollar on every barrel. While Brent crude for September increased 19 cents and in the morning the price of Brent crude increased by 105.60 dollars.
Desmond Chou who is analyst of CMC market said that we don’t found oil from Middle East. There are still fears of oil supply disruptions.