Oil rises in Asia

SINGAPORE: Oil prices rose in Asian trade Monday as a major tropical storm churned towards the oil-producing Gulf of Mexico region, analysts said. New York's main contract, light sweet crude for August delivery climbed 36 cents to 79.22 dollars a barrel while London's Brent North Sea crude for August rose 36 cents to 78.48 dollars. Prices jumped last week as the market fretted about the potential impact of Tropical Depression Alex on global energy supplies, pushing the New York contract 2.35 dollars higher on Friday.