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Oil edges up as Iranian tensions grow, US cold snap continues UPDATE.
(From AFX Europe (Focus))
(Updates prices, adds detail)
LONDON (AFX) - Oil edged up as geo-political tensions between the US and Iran stoked supply jitters and as the cold snap in the US continued.
At 10.16 am, front-month Brent North Sea crude contracts for March delivery were up 66 cents at 58.76 usd a barrel, after losing 31 cents to settle at 58.10 usd yesterday.
Meanwhile, front-month New York light sweet crude contracts for March delivery were up 70 cents to 59.44 usd a barrel, after dropping 28 cents to close at 58.74 yesterday.
"There are a lot of funds buying and a re-emergence of geopolitical tensions in Iran …
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