SINGAPORE: Crude prices rose in Asian trade Tuesday, driven by geopolitical concerns after the death of North Korean leader Kim Jong-Il, analysts said.
New York's main contract, light sweet crude for delivery in January, gained 40 cents to $94.28 a barrel.
Brent North Sea crude for February delivery was up 43 cents to $104.07.
"Investors will be worried that this (Kim Jong-Il's death) will cause geopolitical unrest," said Ker Chung Yang, commodity analyst for Phillip Futures in Singapore.
Kim, 69, died of a heart attack on Saturday, state media announced on Monday, raising new questions about the future of the nuclear-armed and deeply isolated communist nation.
Pyongyang urged service personnel and citizens to rally behind Kim's youngest son and heir apparent Jong-Un, who is in his late 20s.
Last year, he was made a four-star general and given top ruling party posts despite not previously having any public profile.
"As expected, investors are reacting with caution in the short term, concerned about potential political instability in North Korea," analysts from Barclays Capital said in a commentary.
"The focus is now on the leadership transition and the durability of the new administration," they added.
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