Oil rose in Asian trade today. New York's main contract, West Texas Intermediate crude for delivery in March, gained 31 cents to 100.01 dollars a barrel in morning trade. Brent North Sea crude for March delivery was up 34 cents at 111.13 dollars. The US Commerce Department will release its figures with analysts expecting the world's biggest economy to have grown 3.20 per cent in the quarter, the fastest pace in 18 months. European Union foreign ministers agreed a ban on Iranian oil imports and a phase-out of existing contracts up to July 1 to pressure Tehran to end its controversial nuclear programme. They also froze the assets of the country's central bank while ensuring legitimate trade under strict conditions. In a retaliatory move, Iran's parliament is expected to consider next week a bill to ban oil exports to Europe immediately before the embargo comes into force. State media reports that Iranian President Mahmoud Ahmadinejad eased tensions slightly by declaring that Tehran was ready to sit down with world powers for talks on its nuclear drive.