Singapore/Tokyo: Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies.
Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels.
U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels. Trading volumes were limited during Asian hours on Wednesday due to a public holiday in Singapore, Malaysia and parts of India.
However, a technical pattern known as a ´Golden Cross´ was approaching in WTI crude oil contracts on Wednesday, in which the 50-day moving average price climbs higher than the 200-day moving average.
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