Oil prices rise in Asian trade

SINGAPORE: Oil prices rose in Asian trade Friday on fears the conflict between Israel and Hamas in Gaza will further intensify, analysts said.

New York's main futures contract, light sweet crude for February delivery, was up 75 cents to 42.45 dollars a barrel on the New York Mercantile Exchange.

Brent North Sea crude for February delivery gained 63 cents to 45.30. The US Department of Energy said on Wednesday that stockpiles of crude increased by 6.7 million barrels last week, far higher than analyst predictions of an increase of 700,000 barrels.