TN:Oil higher in Asian trade as US gains support on Syria
SINGAPORE: Oil prices rose in Asian trade Thursday as US President Barack Obama cleared the first legislative hurdle in his race to win congressional backing for military strikes on Syria.
New York's main contract, West Texas Intermediate for delivery in October, gained 30 cents to $107.53 in mid-morning trade, while Brent North Sea crude for October gained 19 cents to $115.10.
The gains came after the US Senate Foreign Relations Committee backed an amended resolution authorising strikes in Syria, albeit with a 90-day deadline and barring the use of ground forces for combat purposes.
Obama was meeting world leaders in Russia Thursday as he strives to bridge deep divisions over his push for action triggered by an alleged chemical weapons attack on Damascus suburbs.
Teoh Say Hwa, head of investment at Phillip Futures in Singapore, said the initial expression of support from Congress had increased the likelihood of military action.
