Oil Climbs on Middle East Escalation Fears, US Fed Rate Cut

OIL PRICE - SINGAPORE. Oil prices rose on Monday, buoyed by concerns that heightened conflict in the Middle East may curtail regional supply and expectations last week's outsized U.S. interest rate cut will support demand.

Brent crude futures for November were up 22 cents, or 0.3% at $74.71 a barrel at 0705 GMT. U.S. crude futures for November were up 26 cents, or 0.4%, at $71.26.