Oil prices gain on Syria war threat and US jobs data
NEW YORK (AP) - The price of oil topped US$110 (S$140.83) a barrel on Friday as Russian President Vladimir Putin said his country will continue helping Syria even if it comes under attack.
US economic news also gave a boost to oil as the latest jobs data fueled expectations that the Federal Reserve will keep its economic stimulus measures in place longer than expected.
US benchmark oil for October delivery rose US$1.92, or 1.8 per cent, to US$110.29 a barrel in afternoon trading on the New York Mercantile Exchange. It's the first time in a week that oil has passed US$110.
President Barack Obama has been trying to win support at home and abroad for military action against Syria. Speaking at a briefing after Friday's Group of 20 summit, Mr Putin answered with a firm "we will" when asked if Russia will keep providing assistance to Syria if it's attacked.