(VOVworld) - Oil prices rose in Asia on Monday after crude producer Saudi Arabia cut diplomatic ties with Iran following a row over the Saudi execution of a Shiite preacher.

Oil prices rose in Asia after crude producer Saudi Arabia cut diplomatic ties with Iran. (Photo:AP)

On Monday in the Singapore market, the price of oil for February was up 91 cents, or 2.44 percent, reaching 38.19 USD per barrel. The price of gold in the Asian market also showed signs of recovery. In Singapore, gold prices increased by 0.3 percent to 1,063 USD per ounce.