Oil climbs in Asia on Saudi's support at $100 - World news - Mideast/N. Africa - msnbc.com: "KUALA LUMPUR, Malaysia — Oil climbed above $100 a barrel Tuesday in Asia after Saudi Arabia, the world's largest exporter of the commodity, indicated support for crude at that level.
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Benchmark crude for February delivery was up $1.56 at $100.26 a barrel at midday Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The oil market in the U.S. was closed on Monday for a holiday.
Oil prices rose after Saudi Oil Minister Ali al-Naimi told CNN that Saudi Arabia wanted to stabilize prices at $100 a barrel this year and was ready to pump more oil if needed, said Victor Shum, an energy analyst with Purvin & Gertz in Singapor"
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