Oil prices extend gains in Asian trade

Singapore, Feb 21: Oil prices extended gains in Asian trade on Tuesday after eurozone finance ministers sealed a deal on a massive new bailout for Greece.

New York's main contract, light sweet crude for delivery in March was USD 1.78 higher at USD 105.02, and Brent North Sea crude for April delivery gained eight cents to USD 120.13 in morning trade.

"Obviously there's a cheer in Europe over the news in Greece... but Iran is raining on their parade," said Justin Harper, head of research at IG Markets Singapore. "And there's still a long way to go for Europe and Greece, so it's not really time to celebrate yet."

AFP