Geo Business

Oil up in early Asian trade

SINGAPORE: Crude futures rose in early Asian trade on Monday, extending the sharp gains made in the previous session on hopes policymakers' would reach an agreement to tackle the euro zone's debt crisis and stem any slide in oil consumption. Brent crude rose 64 cents to $112.87 a barrel at 2322 GMT, while U.S. crude gained 72 cents to $87.52. On Friday, Brent for December rose $3.03 to settle at $112.23. The November contract, which expired on Friday, surged$3.57 to settle at $114.68 a barrel, the highest close since Sept. 15. U.S. November rose $2.57 to settle at $86.80 a barrel, the highest settlement since Sept. 20. (Reuters)