Iran Test-Fires Sent Oil Prices High

Oil prices rose in Asian trade on Thursday, gaining support from Iran's test of a missile that could hit Israel, dealers said.

New York's main oil contract, light sweet crude for August delivery, rose 63 cents to 136.68 dollars a barrel after closing a penny higher at 136.05 on Wednesday at the New York Mercantile Exchange.

Brent North Sea oil for August gained 51 cents to 137.09 after rising 15 cents to 136.58 Wednesday in London.