Crude Rose on Arabian Storm Forecasts

Oil prices rose Wednesday amid forecasts that the strongest storm to hit the Arabian Peninsula in 60 years was barreling toward Iran, a major oil producer, and the oil-rich Persian Gulf.

US light, sweet crude for July delivery added 23 cents to $65.84 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore.

The contract fell 60 cents to settle at $65.61 a barrel Tuesday.