February 17, 2012 10:17 AM

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Oil prices higher in Asian trade today

Oil prices edged higher in Asian trade today 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 light sweet crude for March delivery, rose 12 cents to 102.43 dollars per barrel and Brent North Sea crude for April delivery gained 24 cents to 120 dollars 35 cents.Meanwhile, traders are also closely watching the situation in the North Sea, where output is set to fall for a third month in March due to maintenance works.

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