SINGAPORE: Oil prices were mixed in Asia Tuesday, coming under pressure on concerns about fragile demand, flush global supplies and a surging US dollar, analysts said.
US benchmark West Texas Intermediate (WTI) for October delivery rose 33 cents to $92.99 in late-morning trade, while Brent crude for October fell nine cents to $100.11.
WTI had dropped 63 cents to $92.66 in New York, its lowest level since January, while Brent declined 62 cents to $100.20 in London after initially falling below the $100 threshold in intra-day trading.
"The unexpectedly weak US jobs number puts doubt in the global oil demand outlook matched against more than ample oil supply," United Overseas Bank said in a note.
A below-forecast US jobs report and disappointing manufacturing data out of Europe and China last week have compounded investors' fears about weakening global energy demand.
A surge in the US dollar following a fall in US bond prices has also put pressure on crude prices, analysts said.
The US dollar was buying 106.25 yen in Asia Tuesday, compared with 106.03 yen on Monday in New York.
A stronger greenback makes dollar-priced oil and commodities more expensive for buyers using weaker currencies, denting demand and pushing prices lower.
Investors are keeping a close watch on insurgencies in crude producers Libya and Iraq as well as Ukraine, a key conduit for Russian gas exports to Europe.
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