SINGAPORE: Oil prices edged higher in Asian trade Friday on continued tension between Western powers and crude producer Iran, as well as positive economic data from the United States, analysts said.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for March delivery, rose 12 cents to $102.43 per barrel and Brent North Sea crude for April delivery gained 24 cents to $120.35.
"Crude rose... on worries about supply from Iran and from the North Sea, where output was expected to dip next month," said Phillip Futures in a commentary.
Israeli Prime Minister Benjamin Netanyahu accused Iran on Thursday of being the most irresponsible country in the world and said sanctions against Tehran over its nuclear drive "haven't worked." (AFP)
New York's main contract, West Texas Intermediate (WTI) light sweet crude for March delivery, rose 12 cents to $102.43 per barrel and Brent North Sea crude for April delivery gained 24 cents to $120.35.
"Crude rose... on worries about supply from Iran and from the North Sea, where output was expected to dip next month," said Phillip Futures in a commentary.
Israeli Prime Minister Benjamin Netanyahu accused Iran on Thursday of being the most irresponsible country in the world and said sanctions against Tehran over its nuclear drive "haven't worked." (AFP)