Oil prices up

Oil prices rose today amid concerns about unrest and political tensions in major producing nations.

Light sweet crude for March delivery on the New York Mercantile Exchange increased 16 cents to $62 a barrel in Asian electronic trading. Heating oil futures rose nearly a cent to $1.6519 per gallon, while petrol futures increased 1.67 cents to $1.4788 a gallon. Natural gas futures rose 3.9 cents to $7.355 per 1,000 cubic feet.