The analysts brought the fact into spotlight that oil prices in small degrees higher in Asian trade on Friday on cheered up United States corporate along with economic news even though profit-taking limited gains. Furthermore, New York's main contract, West Texas Intermediate (WTI) for delivery in August, rose one cent to US$108.05 (S$136) a barrel, while Brent North Sea crude for September was up seven cents at US$108.77. WTI soared US$1.56 in New York on Thursday, to conclude at its highest level since March 1, 2012. In fact, Ric Spooner Chief market analyst at CMC Markets in Sydney, told AFP that there is a little bit of profit-taking furthering on subsequent to the close of US equity markets.

(AW:Samrat Biswas)